European Commissioner for Economy Paolo Gentiloni said on Monday that the European Commission's (EC) updated growth forecast for the EU, due in mid-November, will be more or less the same as its previous forecast despite the difficult situation in some countries. According to the official, the Eurozone will achieve growth close to 0.8 per cent, as previously forecast.
However, Gentiloni stressed that the EC acknowledges the challenges, especially for the manufacturing industry, adding that these challenges are confirming the importance of the issue of competitiveness.
The Economy Commissioner also acknowledged the need for stronger banks in Europe.