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| Home Front Economy |
| Eurozone sinks into recession |
| 2008-11-14 |
| THE economy of the 15 nations sharing the euro has slumped into recession for the first time ever, EU data released today revealed, with GDP falling 0.2 per cent in the second and third quarters. The 27-nation EU as a whole avoided the same fate only by recording zero, rather than negative, growth in the second quarter On a 12-month comparison, the eurozone economy grew 0.7 per cent in the third quarter, down sharply from 1.7 per cent in the previous quarter, the official Eurostat agency said. |
| Posted by:tipper |
| #10 A cheaper Euro and stronger Dollar might help everyone. Ima thinking the opposite, Scooter. A weaker Euro helps the Euros but weakens the US. Europe needs to have a blow torch applied to their belly, to convince them of the need to reform their unsustainable cradle to the grave welfare policies.These were easy to implement when they could outsource their defense obligations to the US for free. They need to grow up and stop acting like trust fund kids and start to find their own way in the world. |
| Posted by: tipper 2008-11-14 19:05 |
| #9 Has the Euro exchange rate dropped yet? It seems like when the currency markets went wild, that was about the time oil spiked and the world economy started to tank. A cheaper Euro and stronger Dollar might help everyone.... |
| Posted by: Scooter McGruder 2008-11-14 14:23 |
| #8 Don't worry! The french authorities have announced that France will avoid recession, with a planned growth of 0.1! Which is remarkable, as Germany said it WILL go in recession, and, well, they kinda beat us in terms of growth, lesser public spending, lesser debt and all... But, Thanks Keynes, recession will carefully avoid crossing the french borders, exactly as the Chernobyl cloud caaarrrefuly followed the french Gvt's orders not to enter the country... at least, that's the line the gvt kept for about 12-14 years???, all evidences to the contrary, with experts coming to the television on prime-time to assure bold-faced the french people that there was no radioactive cloud over France, the interior minister saying there was no cloud, etc, etc... so, yeah, I've got a good feeling about that recession thingie! |
| Posted by: anonymous5089 2008-11-14 12:42 |
| #7 When the U.S. catches cold the EU gets pnuemonia. We're going to find out what the EU gets when the U.S. gets the flu (or worse). |
| Posted by: DoDo 2008-11-14 12:31 |
| #6 Gee, tax the hell out of the citizens and VAT makes it cheaper to buy USA with what little money is left WTF else would happen?; no wonder Ireland gave y'all the finger. |
| Posted by: swksvolFF 2008-11-14 11:35 |
| #5 As Bill Gates said last week, every other country would rather have our problems [instead of theirs]. |
| Posted by: Frozen Al 2008-11-14 11:29 |
| #4 Things will be bad in the US. Outside the US, things will be very bad. |
| Posted by: DarthVader 2008-11-14 09:28 |
| #3 Wasn't it a german talking about the end of America on the world stage just the other day? |
| Posted by: bigjim-ky 2008-11-14 08:23 |
| #2 Obamanomics From Wikipedia, the free encyclopedia Obamanomics refers to a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society.[1][2] Modern Obamanomics originated in the late nineteenth-century working class political movement. Karl Marx posited that Obamanomics would be achieved via class struggle and a proletarian revolution which represents the transitional stage between capitalism and communism. |
| Posted by: Besoeker 2008-11-14 07:52 |
| #1 When the EuroZone gets a dose of Obamanomics, this current slump may end up looking like the good ole days. |
| Posted by: Sonny Ebbeamp1305 2008-11-14 07:34 |