Forecast will show there is no room for complacency

THE European Commission’s autumn economic forecast, due to be published tomorrow, will show there is no room for complacency, Economics Commissioner Olli Rehn has warned.

Finance ministers meeting in Brussels worked under the cloud of political and economic uncertainty in both Greece and Italy as they struggled to find common ground on a financial transaction tax on banks.

It was left to Mr Rehn to send tough messages to both countries and their governments, warning them the politicians must unite behind tough measures to get their economies under control.