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European Commissioner Almunia Sees Serious Challenges to EU Economies |
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European Economy |
Written by CEP News |
Oct 16 08 13:57 GMT |
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(CEP News) - Delivering a speech in Brussels, Belgium, Joaquin Almunia, European Commissioner for Economic and Monetary Affairs said the real economy faces serious challenges and that the risks to growth have increased.
On the back of possibly higher and volatile food and energy prices, there are serious risks that the real economy with be adversely affected, said the policy-maker. Almunia went on to call the financial market crisis the worst since the 1930s and expressed concern that the downturns will lead to a renewed bout of economic protectionism. By Erik Kevin Franco,
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, edited by Sarah Sussman,
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