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German forecasts cut

A number of economic think-tanks in Germany have slashed growth projections for the country and warned more must be done to boost growth and investments in the Eurozone's largest economy.

It comes as the country suffered another dose of bleak economic news as exports slumped more than 5pc in August, the largest amount since the height of the crisis in 2009.

It is the latest worrying economic development for German Chancellor Angela Merkel (right).