By Marcus Leach

Economic growth in the eurozone will come 'to a virtual standstill' in the second half of 2011, this is according to the European Commission.

The Commission have slashed their forecast for the third quarter of 2011 to just 0.2% of growth, with the forecast for the fourth quarter down to 0.1% from 0.4%.

Reasons cited by the Commission for downgrading the forecasts included financial market problems, as well as weakening demand from outside Europe.

Despite this, the Commission remained confident that there wouldn't be a return to recession.

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