October 25, 2011
The risk of recession in the euro zone is mounting, according to a closely watched business survey, signalling that a vicious cycle of fiscal austerity and economic contraction threatens even some of Europe's biggest economies.
The gloomy outlook comes as political differences among European leaders over how to handle the worsening debt crisis have given way to increasingly personal attacks.
After enduring months of criticism from other European leaders, Italian Prime Minister Silvio Berlusconi on Monday issued a defiant statement that lashed back at EU authorities and his euro-zone peers.
"No one in the Union can appoint themselves as administrator and speak in the name of governments elected by and made of the people of Europe. No one can give lessons to a partner," he said.
Germany and France have complained he isn't pushing ahead fast enough with an economic overhaul.
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