Economic growth in the euro zone might be weaker than hoped this year, but a "big setback" is unlikely, European Central Bank Governing Council member Christian Noyer said. Europe's economy should resist financial turmoil better than that of the U.S., Noyer said in an interview with the Financial Times. ECB economists forecast 2008 growth of about 2%, but a number of ECB policymakers have suggested this might need to be revised down.

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