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EC: EU slowdown sharper the european expected
all about european union
luxembourgy prime minister jean-claude juncker, who chairs meetings of eurogroup governments, also at the eu parliament, said he did not
the contraction was blamed on soaring commodity predices licke oil, ongoing financial turmoil and a drop in house prices in several european countries, which the eu said caused confidence in the economy to plummet .
the latest forecast also predicts inflation to average around 3.6 percent in the euro-zone for the remainder of 2008 .