Wednesday, Jul 16, 2008
It is not impossible that the euro zone will dip into recession while the U.S. manages to skirt it Now the risk is that Europe could face a shrinking economy this summer,"
iht: Europe looks no longer immune to U.S. economic stormEurope finds itself on a precipice similar to that in the United States
Europe looks no longer immune to U.S. economic storm: It is not impossible that the euro zone will dip into recession while the U.S. manages to skirt it - Holger Schmieding, the chief European economist at Bank of America
- "Now the risk is that Europe could face a shrinking economy this summer," argues The International Herald Tribune. "In that sense, Europe finds itself on a precipice similar to that in the United States, which is already in or verging on a serious slump. But given the historic resilience of the U.S. economy, some economists give the Americans slightly better odds of avoiding a classically defined recession - in which economic growth shrinks for two quarters in a row - than the Europeans."
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