URGENT ¥¥¥ ECB trims 2013, 2014 eurozone growth forecasts

The European Central Bank on Thursday trimmed its growth forecasts for this year and next as the impact of the bloc's debt crisis continued to be felt in the 17-country eurozone.

The ECB said it saw the eurozone economy contracting by 0.5 percent in 2013 before recovering to grow by 1.0 percent next year. It had previously forecast -0.3 percent and 1.2 percent respectively.