Europe nearly doubled its growth forecast Monday to at least 1.7 percent for 2010, highlighting recovery in Germany but warning about rising strains in Ireland’s banking system.
The European Union raised its core eurozone growth prediction on data from its seven biggest members, having forecast just 0.9 percent in the spring, but was at pains to remain prudent.
Encouraged to see “revival ... particularly in Germany,” Brussels warned that risks “remain elevated” with a “multi-speed” recovery accentuated by problems with national finances in Ireland and elsewhere.
For more: Daily Times - Leading News Resource of Pakistan - EU nearly doubles eurozone growth forecast
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