Likely EU Recession Paves the Way for Greater ECB Influence
Nov 4th, 2008 | By Jason Simpkins | Category: Financial NewsThe European Commission (EC) said yesterday (Monday) that the Eurozone economy has already slipped into a recession and strong and stable economic growth will not return until 2010. The European Central Bank (ECB), originally charged with the task of maintaining price stability, has now found itself with the added responsibility of encouraging growth and will likely cut interest rates later this week.