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Britain 'to fall into recession'
stubborn inflation economic and monetary affairs commissioner joaquin almunia blamed reductions in the financial markets, soaring commodity prices and the housing slump for the gloomy outlook .
gloomy outlook shaken by a shousing slump and volatile financial markets, the brussels-based organisation predirects that the uk economy, which is not a member of the eurozone, will shrink by an annual rate of 0.25% in each of the next two quarters .
the uk, govermany and spain will fall into recession in 2008, the europes of an commission has predirected .