Quotes are Powered By Forexpros, the Forex, Futures, and Stock
Scandinavia Today / Europe
Euro-zone fall into double-dip recession.
Thursday, 15 November 2012
Europe cannot fix their falling economies as signs show how the
economic region of Europe (Euro zone) is persistently falling in terms
of economic development.
This comes after Eurostat database show that Eurozone GDP fell by
0.1percent in third quarter, plunging the region into recession that
economists fear could drag into next year.
This means that there is no way "old Europe" can help support the USA
move the world economy into the growth path. Although political issues
in the USA is dragging on, that of Europe has lasted too long to show
that Europe can only talk and hope but cannot take any action in terms
of leadership in growing the economy.
According to reports, the euro-zone economy contracted in the third
quarter despite modest gains in Germany and France, as rising
unemployment and fiscal austerity across much of Europe deepened the
Continent's economic malaise.
The decline in gross domestic product was the second straight, and the
euro zone has failed to expand for four-straight quarters. Economists
in Europe generally define recession as two straight quarterly
contractions in GDP.
By Scancomark.com Team