EU basks in growth delight

Welcoming results, Almunia warns against complacency

The European Union rejoiced last week over the recovery of its economy after several years of sluggish performance. “Based on the data for the six largest member states, the growth rate for the EU economy for the full year 2006 has been revised upwards to 2.7 percent in the EU and 2.5 percent in the Euro area, an increase of 0.4 percent on the spring forecasts,” said Joaquin Almunia, European Commissioner for Economic and Monetary Affairs. Addressing “Euromoney Covered Bond Congress” in Madrid, ...

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