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HIGHLIGHTS-Eurogroup's Juncker at European Parliament

Mon Apr 7, 2008 10:38pm IST
 
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BRUSSELS, April 7 (Reuters) - The following are comments by Eurogroup President Jean-Claude Juncker during his testimony on Monday at an economic committee of the European Parliament.

EUROPEAN GROWTH OUTLOOK WORSENS

"We have to admit that when the European Commission will publish its forecast...towards the end of April, there will be further correction down for growth for 2008 and there will be another upwards correction for the inflation forecast.

"Nevertheless despite those risks...the economic fundamentals for the whole of the euro zone remain solid.

Expanding on the outlook, he said later:

"The headwinds have become worse because of materialisation of a number of risks including a considerable increase in oil prices and we must believe the level of oil prices will be maintained for a long time."

..BUT BETTER THAN U.S. AND IMF TOO GLOOMY  Continued...

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