ECB cuts eurozone growth forecast

The ECB on Thursday 3 March lowered its forecasts for growth of the eurozone economy this year and next At a press conference Jean-Claude Trichet also criticised the recent decision by the Ecofin council of European finance ministers to give Greece extra time to bring down its public deficit.

ECB President Jean-Claude Trichet told a news conference on Thursday that the central bank expected the eurozone economy to grow in a range of 1.2-2.0 percent -- or a median of 1.6 percent -- this year, s