“Eurozone suffers ‘worst’ jolt since 9/11
By Ralph Atkins in Frankfurt
Published: September 21 2007 11:20 | Last updated: September 21 2007 17:27
The eurozone economy has this month suffered its biggest jolt since the aftermath of the September 2001 terrorist attacks, with global financial turmoil hitting the services sector particularly hard, according to a closely watched survey.”

http://www.ft.com/cms/s/0/d42aed9c-6826-11dc-b475-0000779fd2ac.html

They are going to have to cut IMO. I am getting a feeling that deflation is what the FED is worried about.