LUXEMBOURG (AFX) - European Economic and Monetary Affairs Commissioner Pedro Solbes said the pace of the euro zone's economic slowdown is "stronger than expected".
However, speaking at the conclusion of a Eurogroup meeting here, Solbes said the European Commission sees prospects for, "relatively robust economic activity."
Solbes said the Eurogroup meeting discussed the possibility of the use of market stabilisers in response to the economic slowdown in the euro zone.
"The commission is in principle favourably disposed to the use of market stabilisers," he said adding, however, that EU member countries must first have their budgets under control and make debt reduction a priority.