Almunia warns of tensions over eurozone growth

Article reports that Europe's single currency area could be hit by 'tension' and disunity unless its 12 members reform their economies and close their growth and inflation differences, Joaquín Almunia, EU monetary affairs commissioner, will warn in the 'EU Economy: 2006 Review', to be publuished on the 22 November 2006.

Each autumn, the European Commission publishes a comprehensive report on recent and prospective economic trends in the European Union. The EU Economy review also regularly studies specific topics of particular importance for economic policies. In 2005, for example, it focused on the rising integration of the world economies.

The EU Economy 2006 Review is devoted entirely to the issue of dynamic adjustment in the euro area based on experience in the last eight years since the creation of the euro. The report provides a solid analytical and empirical basis for understanding the channels of economic adjustment in euro-area countries. The results of the analysis lead to suggestions on how policies might be adapted to improve the functioning of the euro area.

European Commission: DG Economic and Financial Affairs: Publications: European Economy: EU Economy Review http://ec.europa.eu/economy_finance/publications/the_eu_economy_review_en.htm

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