Statement cum News Story

How often have we seen this before? It always has to do with a future projection.

EU: Our economy will outpace U.S. in '07

It forecast both the entire European Union and the euro currency area would grow at a brisk pace this year, upping its prediction for the euro10.9 trillion (US$14.3 trillion) EU economy to grow by 2.7 percent -- instead of 2.4 percent -- and raising its euro-zone forecast to 2.4 percent from 2.1.

The EU executive said the United States will grow 2.5 percent.

"According to our assumptions, the United States will grow this year below the EU growth rate and slightly above the euro area growth rate," EU Economic and Monetary Affairs Commissioner Joaquin Almunia told reporters.

Whatever the hell than means. In any event, let’s make a note of this story, shall we? An independent forecaster is calling down US growth at 3.5% from 4.2%, and the White House is probably trying to mollify both optimistic and pessimistic prognosticator by calling it closer to 2.9%. All a far cry from another disappointing talk-up from Brussels.The Fuse is Lit (No Pasaran!)