Friday, February 22, 2013

And meanwhile we've got one week before we emulate them

Ugh.  Who could not have anticipated except everyone that doesn't live in beltway?

The eurozone will not return to growth until 2014, the European commission said on Friday, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery.

The 17-nation bloc's economy, which generates nearly a fifth of global output, will shrink 0.3% in 2013, the commission said, meaning the eurozone will remain in its second recession since 2009 for a year longer than originally foreseen.

Oh, but by all means let's do it here!


Montag said...

Forecasting is such fun for these guys. But, what if they said, "the Eurozone will never return to the levels of growth experienced in the past."

That's probably more honest. They've kept the austerity manacles in place for long enough that the effects will be generational, which was the intention all along--to reset the wage rates and corporation/worker power balance in favor of corporations.

Hundreds of years from now, historians will describe this time as the age when oligarchy became entrenched, and banks reigned supreme....

pansypoo said...

HAZAAH! all in the CONTINUING project to make obama FAIL.

SAME AS IT EVER WAS. it isn't that hard to ferret out GOP plans. emphasis on FERRET(WEASEL).