By Prensa Latina
Brussels : European Union finance ministers agreed on Tuesday that their economies were less battered by the global financial crisis than the US economy.
The Ecofin meeting participants claim this is the result of solid economies and healthier financial status, yet voiced concern with soaring inflation and stressed the need to prevent a price surge.
Acting Ecofin President (Slovenia) Andrej Bajuk said that Europe’s GDP will lag this year due to market volatility and financial turmoil.
However he insisted that the situation in Europe differs from that of the US due to its growth rate and balanced economies.
The minister discussed the budget plans of a group of member countries – Germany, France, Britain and Italy as in the best situation.