Moscovici, left, at the European Commission in Brussels.
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No global meltdown, EU growth outlook firm: EU econ chiefCentral banks still have more firepower they can use to counter a slowdown in global growth, which does not change the outlook for recovery in the eurozone, European Economics Commissioner Pierre Moscovici said Wednesday. The EU executive last forecast in November that the eurozone would grow by 1.8 percent this year and 1.9 percent in 2017 after an estimated 1.6 percent last year.However, the IMF said lower oil prices would help support private consumption in Europe and therefore added 0.1 percentage point to its 2016 euro area growth forecast, bringing it to 1.7 percent, where it will remain for 2017 .
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