Olli Rehn
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Ollie Rehn predicts eurozone 'mild' recession

The European Commission has predicted that the eurozone economy will contract by 0.3% in 2012.

In its previous forecast in November, it said that the economy would grow by 0.5%.

Olli Rehn, European commissioner for economic and monetary affairs, said the GDP forecast comprised all 27 members of the European union.