Europe faces economic slowdown

The International Monetary Fund (IMF) has warned that Europe will find it difficult to avoid a sharp economic slowdown, as it is hit by the tech sector collapse, weak consumer demand and the aftermath of the terrorist attacks in the USA.

In the World Economic Outlook, published twice a year, the IMF experts warn that risks of a sharper downturn have been "increased by the 11 September terrorist attack, particularly if the global recovery is slower than expected or consumer confidence continue