"The situation is still uncertain, and uncertainties about the future are still substantial": Joaquin Almunia, commissioner for monetary affairs, presents the economic forecasts for the euro-zone and the 27-EU, and insists on the general crisis that affects all the productive systems, trade, public budgets and the consumption of European families. In 2008, economic growth in the Union should stop at 1.4%, i.e. half that of last year; a further slowdown should be confirmed in 2009, then things should "start moving" again in 2010. This slump is even more serious in the 15 states that use the single currency: 1.2% in 2008; 0.1% in 2009; 0.9% the year after that. Almunia recalls that measures are being taken in Europe and in the rest of the world to support economy, but, for the time being, their results and their impact in the medium and long term cannot be measured. Likewise, "the unemployment rate is expected to rise by about 1%" in the medium term, while inflation should remain under control, "partly because of a decrease in oil prices" and the measures taken by the Central Banks. (continued)
