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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.
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