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European Union Economic Recovery Stalls

November 16th, 2013 Comments off

Despite the massive public deficits and loose monetary policies maintained throughout Europe, without interruption, since the onset of the global economic crisis in 2008, the latest data released by Eurostat  indicates that in Q3 of 2013 the EU had overall GDP growth in that quarter of a mere 0.2 percent.  Within the 17-nation bloc that forms the Eurozone, the Q3 growth figure was an even more dismal 0.1 percent.

The latest  economic data  from Europe contradicts the most recent claims made by many European politicians that their economies are no longer in recession, and the fiscal crises are well on the way to being resolved. In reality, we again see that mountains of debt and artificially created liquidity can only by the barest margins produce a GDP growth figure that is so anemic ( and probably required a dose of data manipulation to boot) as to be statistically insignificant. Score another one for the political geniuses who are running the economies in the EU.