As Europe embarks on its projected recovery, wide differences in economic performance and financial stresses will persist, IMF officials say. Meanwhile, the European Commission in its interim economic forecast, says the economic outlook for the EU remains broadly unchanged with the recovery in progress but remaining “fragile.” GDP (gross domestic product) is projected to grow at 0.7% in both the EU and the Eurozone in 2010. Inflation projections also remain largely unchanged at 1.4% and 1.1% in the EU and the Eurozone respectively but the Commission says uncertainty surrounding these projections remains rife, as recent developments in financial markets illustrate.
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