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World Bank Sees 'double-Dip' Recession For Parts Of Europe

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World Bank sees 'double-dip' recession for parts of Europe
A double-dip recession is possible in several European countries if investors lose faith in efforts to control debt, the World Bank said on Thursday.
Published: 3:00PM BST 10 Jun 2010
Government finances in high-income countries in Europe, France, the US and the UK are currently on an “unsustainable path,” said Andrew Burns, the World Bank’s manager of global macroeconomics.
“We’re expecting that growth in the second quarter is also likely to be disappointing, quite possibly seeing negative growth in several European countries and a double dip in some of these economies,” he added.

Well, they have been saying that despite job losses we will recover. So it was looking like a jobless recovereh.

Then we saw falling exports and a wider trade gap so it was going to be an exportless recovereh.

The, after all of that, we started to see debt accelerate even faster making it a debt fuelled recovereh.

In the end I suppose the World Bank et. al. have now decided there simply is no recovereh. Basically, the bubble is still deflating and the debt is still lurking in the living room like a monster elephant.

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