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Deckard

Europe's Leaders See `sustainable' Economic Recovery Without More Stimulus

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http://www.bloomberg.com/apps/news?pid=206...id=aIwi.Efz6zJA

June 19 (Bloomberg) -- European Union leaders spotted the first signs of a “sustainable economic recovery†from the worst slump since World War II and ruled out further pump- priming measures.

In a draft statement at today’s summit in Brussels, the 27 EU heads of state and government said the looming end of the recession makes additional stimulus unnecessary, adding that it is time to start hatching an “exit strategy.â€

“Further budgetary stimulus would not be warranted and attention should shift toward consolidation, keeping pace with economic recovery,†the leaders said in the draft, which was obtained by Bloomberg News. “There is a clear need for a reliable and credible exit strategy.â€

That's it. Crash over. Nothing to see here, move along.

What's that you say? Spain unemployment nearing 20%? Italy's Public Debt/GDP ratio approaching 115%?

Statistical irrelevances, the Euro is an average, innit :rolleyes:

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The Euro Zone overall is a more balanced economy than the UK.

How can it be balanced when Spain has nearly 20% unemployment and Germany 8%?

And that's just one example.

You can call the Eurozone many things - but balanced isn't one of them.

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How can it be balanced when Spain has nearly 20% unemployment and Germany 8%?

And that's just one example.

You can call the Eurozone many things - but balanced isn't one of them.

A balanced Economy is not all about the number of people working, but about the diversity of the economy where new jobs could be created going forward. The Euro Zone as a whole has can produce most of what it consumes, except for oil and Gas. The UK on the otherhand.... cannot. That is what I mean by Balance.

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A balanced Economy is not all about the number of people working, but about the diversity of the economy where new jobs could be created going forward. The Euro Zone as a whole has can produce most of what it consumes, except for oil and Gas. The UK on the otherhand.... cannot. That is what I mean by Balance.

BB, that's your own personal definition of a balanced economy.

And even by your definition, new jobs are NOT being created in Spain right now - on the contrary, jobs are being lost at an alarming rate.

I don't think Spaniards in the dole queue are consoling themselves with the thought that The Euro Zone as a whole has can produce most of what it consumes...

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