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'No new recession' in sight: EU

Last Updated: Thursday, August 18, 2011 - 22:17


Oslo: There is no prospect of a recession, either in Europe or in the United States, despite a general economic slowdown, European Union President Herman Van Rompuy said on Thursday.

"There is no perspective, no forecast for negative economic growth. Growth can be lower than expected, lower than anticipated... but we don't foresee negative economic growth, a recession," Van Rompuy said.

Asked about a request by French President Nicolas Sarkozy and German Chancellor Angela Merkel that he preside over the eurozone, Van Rompuy answered that he fulfilled the role already.

"What Chancellor Merkel and President Sarkozy of France are proposing is that I will chair these meetings on a regular basis. But it is already standing in practice," Van Rompuy said.

A eurozone summit in October "will decide on the new institutional architecture of economic governance in the euro zone," he said.

"So I can't accept something which is not offered yet officially but I do the job already now," Van Rompuy added.

Bureau Report

First Published: Thursday, August 18, 2011 - 22:17
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