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EU Officials Call for Calm as Stock Markets Plunge | Business | Deutsche Welle | 21.01.2008
Top European finance officials stressed on Monday, Jan. 21, that their economies remained solid as global stock markets plunged on concerns about a risk of recession in the United States.

"The excess of volatility of the markets is not good news," EU Economic and Monetary Affairs Commissioner Joaquin Almunia said as he arrived for a meeting of euro zone finance ministers due to focus on financial sector stability.

 

"I hope they will become more quiet because at least in Europe the fundamentals of our economies are sound," Almunia added. "It seems that the markets are considering the possibility of a more pronounced slowdown, even a recession in the US."

 

Global stock markets skidded deep into the red as US President George W. Bush's tax plans to revive the world's largest economy left investors disappointed.


by Fran on Mon Jan 21st, 2008 at 11:18:53 PM EST
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