EU - Barroso says Europe will avoid return to recession

Europe will not slide back into recession, and the euro remains "strong and resilient", the president of the European Commission has said. Jose Manuel Barroso added that the Commission and national governments were "doing all it takes" to tackle the debt problems in the eurozone area.

S&P now expects the economy across the 17 nations that share the euro to expand 1.7% this year, down from its previous forecast of 1.9%.

For more: BBC News - Barroso says Europe will avoid return to recession