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EU Chief Sees No New Recession


European Commission President Jose Manuel Barroso

European Commission President Jose Manuel Barroso

European Commission President Jose Manuel Barroso says he does not believe the eurozone is headed for a double-dip, or second, recession, and that the European Union's economy will continue to grow modestly.

Barroso, head of the EU's executive body, spoke on September 5 on a visit to the Australian capital Canberra.

Barroso said that both the European Union and the euro were "strong and resilient," and that the latest forecast by the European Commission showed that there will be "modest" economic growth in the EU.

Barroso's comments come amid concerns about a possible new recession in Europe following indications of an economic slowdown in the second quarter.

compiled from agency reports
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