Unused weapons in a euro slasher

A sharp cut to the eurozone's growth forecast coincided with intensification of Greece's economic depression, but failed to spur serious consideration of negative interest rates.

Europe was in focus overnight. The European Central Bank gave updated forecasts for the economy, Greek unemployment rose again and political tensions emerged in Italy as Silvio Berlusconi’s People of Freedom Party withdrew support from Prime Minister Mario Monti in a move which could prompt an early election.

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