European Commission optimistic on recovery


Joaquin Almunia, the European Union's (EU) commissioner for economic and monetary affairs, said on Tuesday that the EU economy can be expected to grow by 0.75% next year, and by 1.5% in 2011 after a contraction of some 4% over the course of 2009.

In a press conference in Brussels, Almunia said the recovery "owes much to the ambitious measures taken by governments, central banks and the EU that have not only prevented a systemic meltdown but have kick-started the recovery. He added, however, tha

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