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By Chris Becker
Last night markets stumbled on news that the European Commission downgraded the non-existent recovery in the Eurozone calling it “not only subdued but also fragile” with 2014 and 2015 GDP forecasts cut to 0.8% and 1.1% respectively. Not good news for the 3rd biggest economy in the world which is facing the deflation monster head on, with additional news that ECB President Draghi is under enormous pressure to resign his post.
Probably the Germans again…
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