The Threat of a Eurozone Recession
The eurozone may fall into a new recession by the end of this year, with potentially nasty political consequences. In addition to countering the cyclical slowdown, pro-European forces must urgently address the continent’s long-term structural economic problems.
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LONDON – National statistical offices and international organizations are busy revising down their growth forecasts for Europe this year and next. Although they are doing the same for the rest of the world as well, and for China in particular, a slowdown in Europe may have nasty political consequences, in addition to economic costs.