UPDATE: EU's Almunia: May Seek Second Economic Stimulus Pkg

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UPDATE: EU's Almunia: May Seek Second Economic Stimulus Pkg

UPDATE: EU's Almunia: May Seek Second Economic Stimulus Pkg BRUSSELS -(Dow Jones)- The European Union will consider putting together a second stimulus package for the region, if the first package isn't sufficient to turn the economy around, the E.U. Commissioner for Economic and Monetary Affairs Joaquin Almunia said Tuesday. "The effects of the stimulus cannot be estimated today," Almunia said. "It's too soon." The commissioner said big risks remained in some central and eastern European countries. The E.U. has a way to help euro-zone states cope with the crisis that doesn't include aid from the International Monetary Fund, Almunia said, but he refused to discuss it publicly. "By definition, this type of thing should not be explained in public," he said. The E.U. economy has worsened significantly since the European Commission released its economic forecast in January, Almunia said, noting that the upside risks and downside risks in the forecast were evenly balanced. Now, "the downside risks are bigger," he said. -By Matthew Dalton and Carolyn Henson, Dow Jones Newswires; +32 2 741 1481; matthew.dalton@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=Sjdn2T%2FKqaFjrXfDDrEXEA%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones NewswiresMarch 03, 2009 04:33 ET (09:33 GMT)Copyright 2009 Dow Jones & Company, Inc.