Europe is Set for Slower Growth

The European Commission says that economic growth across the EU will slow in 2008 due to the weaker US economy and problems in global financial markets. Brussels is now forecasting a 2.4% growth among the 27 in both 2008 and 2009 compared to 2.7% this year. In the 13 member eurozone it is expected to slow to 2.2 next year compared to the 2.6% they projected for this year.