Eurozone "very probably" in recession in 2009: Juncker

BRUSSELS: The economy of the 15 nations sharing the euro will "very probably" be in recession next year, the chairman of the eurozone finance ministers, Jean-Claude Juncker, said on Friday.

"Europe will very probably be in recession in 2009," said Juncker, who is also Luxembourg's finance minister and premier.

Speaking on the sidelines of an EU summit in Brussels, Juncker said he expected the eurozone economy to show growth or contraction somewhere between a European Commission forecast for 0.1 percent expansion in 2009 and an IMF estimate for shrinkage of 0.5 per cent.