BRUSSELS, Belgium (AP) -- The European Commission says the 15-nation eurozone faces strong headwinds from the turmoil in financial markets and a weakening US economy.
EU monetary affairs chief Joaquin Almunia says it's not clear how long the turmoil will last and how much it will cost.
In unveiling his latest quarterly report on the economy of the 15 countries that use the euro he says that ''In spite of its sound economic fundamentals the euro area is starting to feel the pinch'' of the credit crisis and a U.S. slowdown.
