International Business

EMI Warns About Unemployment, Says Growth Outlook Good: Economic growth prospects for 1995 in the European Union are bright, but wage restraint is needed to keep inflation in check, according to the European Monetary Institute. It also tempered the optimism of its annual report by warning of high unemployment, governmental fiscal deficits and high levels of public debt. “Viewed from the end of 1994, the overall growth perspective for 1995 has clearly brightened further, both for the 12 existing member states and the three new entrants,” the report says. The institute also forecast an inflation rate for the European Union of less than 3%.