January 16, 2011
Economic growth is an elixir for struggling economies, but in Europe it’s likely to come slowly to the countries that need it most.
The recovery that has flickered to life in the United States and much of Northern Europe is missing in euro zone nations straining under huge debt and harsh austerity measures — places like Greece, Ireland and Portugal that have imposed large spending cuts and tax increases.
Those measures may eventually lead to healthier economies, but the process will take years, economists and analysts say. In the meantime, the drag on growth is increasing pressure on the euro, and tethering competitive countries like Germany, a major growth engine, to the faltering fortunes of the European Union’s weakest members.
More
No comments:
Post a Comment