EU To Downgrade Growth Forecast Due To 'Stagflationary Shock' From Iran War

Source: International Business Times

The European Union will downgrade its growth forecast as a result of the Iran war. The European Union will cut its growth forecast as a result of the "stagflationary shock" from the Iran war, its economy commissioner said. Speaking to CNBC, Valdis Dombrovskis, European Commissioner for Economy and Productivity said the block has a narrow margin of action.