The European Commission said this week that its forecast of 3.4 percent growth in the euro zone was justified…

Series Title
Series Details 15/06/00, Volume 6, Number 24
Publication Date 15/06/2000
Content Type

Date: 15/06/2000

...after the EU's statistical agency Eurostat published data showing a 3.2&percent; annualised increase in first quarter gross domestic product. European Central Bank board member Tomasso Padoa-Schioppa also predicted that euro-zone growth would be nearer 3.5&percent; in 2000-2001. Meanwhile, Portuguese Prime Minister Antonio Guterres described the ECB's surprise decision last week to increase euro-zone interests rates by 0.5&percent; as unnecessary, arguing that it would not help economic growth in Europe or bolster the value of the currency.

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