European economy on road to recovery

BRUSSELS -- Economic activity in the euro zone has exceeded the expectations of the European Central Bank, leading it to revise its predictions.

B92

Not really.Economic indicators that are based on average level of activity do not the real story.

There are huge country to country differences as far as
economic activity is concerned.We had reports of positive growth in Germany & France and also reports of negative growth in Southern and eastern Europe.

The unemployment rate in France and Germany is higher than the UK. Some countries such as Spain are dealing with unemployment levels as high as the depression era and Greece has serious economic problems.

The fact is this is a serious global financial crisis. It is not over - not by a long shot. There will be further shocks along the way - further banks will probably fail at some point or perhaps an insurance giant or two - or the alternative - governments will keep bailing them out to ever huger debt.

For me a more accurate diagnosis of increased economic activity is the level of employment.Unless companies start hiring again it would be impossible to claim the recession in over.

On the Road again, on the road again, oh on the road again! Hell,.. how long have we been on the road, again?

For me a more accurate diagnosis of increased economic activity is the level of employment.Unless companies start hiring again it would be impossible to claim the recession in over.
(Leonidas, 3 November 2009 21:39)

I fully agree with you.

BRUSSELS -- Economic activity in the euro zone has exceeded the expectations of the European Central Bank, leading it to revise its predictions.

B92

Not really.Economic indicators that are based on average level of activity do not the real story.

There are huge country to country differences as far as
economic activity is concerned.We had reports of positive growth in Germany & France and also reports of negative growth in Southern and eastern Europe.

The unemployment rate in France and Germany is higher than the UK. Some countries such as Spain are dealing with unemployment levels as high as the depression era and Greece has serious economic problems.

The fact is this is a serious global financial crisis. It is not over - not by a long shot. There will be further shocks along the way - further banks will probably fail at some point or perhaps an insurance giant or two - or the alternative - governments will keep bailing them out to ever huger debt.

For me a more accurate diagnosis of increased economic activity is the level of employment.Unless companies start hiring again it would be impossible to claim the recession in over.

On the Road again, on the road again, oh on the road again! Hell,.. how long have we been on the road, again?

For me a more accurate diagnosis of increased economic activity is the level of employment.Unless companies start hiring again it would be impossible to claim the recession in over.
(Leonidas, 3 November 2009 21:39)

I fully agree with you.