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(CEP News) Frankfurt - European Commission economic department head Marco Buti says that risks are pointing to a longer-lasting recession for the euro zone and that he is expecting the next economic forecast to be even worse than the current one.
"The overwhelming indicators point south very badly," Buti said at a conference in Brussels, Belgium on Wednesday. "The next forecast I'm expecting will be worse than what we have seen so far." Buti also said that while the monetary union was not in the midst of a depression, "the risks for 2010 are also firmly to the downside," despite the unprecedented macroeconomic stimulus expected for next month. Written by CEP News European Staff in Frankfurt,
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, edited by Nancy Girgis,
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