Author (Corporate) | European Commission: DG Communication |
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Series Title | Memo |
Series Details | MEMO/09/425 (30.9.09) |
Publication Date | 30/09/2009 |
Content Type | News, Overview |
Eurogroup ministers will meet on Thursday 1 October 2009. Joaquín Almunia, Commissioner responsible for Economic and Monetary Affairs will attend as will European Central Bank Governor Jean-Claude Trichet. A press conference is scheduled to take place after the meeting. Ministers are expected to be de-briefed on last week's G20 meeting as well as to prepare the IMF /WB annual meetings on 3-4 October, in Istanbul. Ministers are also set to continue discussions, started in July, on the effect of the crisis on potential growth at country level. Pre-crisis projections predicted a fall in EU potential growth from 2% to just over 1% a year from 2020, due to ageing populations. With the financial crisis - which has weakened investment opportunities as demand falls and credit becomes more expensive - the growth potential is estimated to have dipped below 1% already in 2009 and 2010 and to recover to only around 1½ % in subsequent years. The situation, and the necessary policy responses, can vary a lot from country to country because not all countries have the same fiscal position and sustainability problems and many also need to address external imbalances and/or competitiveness problems. |
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Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/425&format=HTML&aged=0&language=EN&guiLanguage=en |
Subject Categories | Economic and Financial Affairs |
Countries / Regions | Europe |
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