"No good news": Joaquín Almunia, EU Commissioner for economic and monetary affairs, does not hide his concerns as he presents to the press the latest figures of European economy. "This year, the growth within the 27 member states will be 1.4%; in the euro-zone, this figure drops to 1.3%, that is, about half a point less than the April forecasts". The calculation was made on the projections for the first seven economies of the EU, that is, France, Germany, Italy, the Netherlands, Poland, Spain and the United Kingdom, which, taken together, account for 80% of the EU’s Gross Domestic Product. "The turbulence on the financial markets which has gone on for over one year, the doubling up of the energy prices at the same time, and the correction that occurred on some property markets, have had an impact on economy". After all, "the recent decrease in the prices of oil and other raw materials and the decrease in the euro exchange rate have given some relief". The Spanish Commissioner explains: "In such a difficult and uncertain scenario, we must learn from our past mistakes and stick firmly to our route". (continued)
