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Kyoto to 'reduce Europe's growth'
Meeting Kyoto Protocol targets on greenhouse gas emissions will reduce European economic growth significantly.

That is the finding of a new study from the International Council for Capital Formation, a market-based think tank.

It projects that by 2010, Spain's growth will have fallen by 3%, and that Italy's will shrink by 2%.

These are bigger figures than previous studies have found, and their release comes as world leaders struggle to find a successor to the Kyoto treaty.

In recent weeks, British Prime Minister Tony Blair has become the latest leader to suggest that constructing a "child-of-Kyoto" agreement involving firm targets for reducing greenhouse gas emissions will be tricky.

"No country will want to sacrifice its economy in order to meet this challenge," he told a London conference last week, commenting further that talk of frameworks and targets "...makes people nervous". ...