EU Commission economic forecast statement

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EU Commission economic forecast statement

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EU Commissioner Olli Rehn, in charge of Economic and Monetary Affairs, presents the economic forecast for the eurozone and the EU 2013-2014.

The Commission said the eurozone will not return to growth until 2014.

The 17-nation bloc’s economy, which generates nearly a fifth of global output, will shrink 0.3 percent in 2013.That means the euro zone will remain in its second recession since 2009 for a year longer than originally foreseen.

Details in the news conference streaming video.