German economy minister Michael Glos sees risks to Germany economic growth as the US property market crisis sifts through to global financial markets. "Clouds are gathering in the economic sky," Glos said at the Bundestag, the lower house of German parliament. Financial market turbulence has not yet passed and jitters remain in global markets, Glos said. An added risk factor is oil prices, which recently reached a record above 80 usd a barrel, and the strong euro, which is hurting German exporters. Glos said the government is "on the safe side" with its forecast for 2.3 pct GDP grow.
