Europe urged to cut interest rates

An influential report from Germany's six leading economic institutes has urged the European Central Bank to cut interest rates by 0.5%. The think-tanks say that Germany's economic growth will be much lower this year than they previously estimated as a result of the global slowdown. The six research institutes are: DIW Berlin, Deutsches Institut für Wirtschaftsforschung; Hamburgisches Welt-Wirtschafts-Archiv (HWWA); ifo Institut für Wirtschaftsforschung, München; Institut für Weltwirtschaft an der Universität Kiel; Institut für Wirtschaftsforschung Halle; Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Essen

http://www.zbw.eu/ http://www.zbw.eu/

---