It's worth keeping in mind that it's not just the US that is recovering from the economic recession. In actual fact, as the article addresses, the Eurozone's recession deepened within the last remaining months of 2012, by about 0.6%. Germany is looking better in general, but France is a rising concern because its economy hardly grew in 2012 in comparison to the other 16 countries in the Eurozone. Considering most nations have stabilized over the past two years, substantially at least, it is a fear that France could potentially be entering a recession of its own in the very near future.
I think that it is very clear that the Eurozone is suffering for having 'loose' entry criteria for the Euro, and at the same time, slightly undermining the importance of the rules with regard to public debt. Now, there is obviously a need for huge debt transfers which the officials continued to assure would not be necessary when problems began to rise.
http://www.bbc.co.uk/news/business-21455423
People often talk about the growth before the crash...Well this growth before the crash was founded on debt. This situation is like a broken skull, it is not going to heal in 5 minutes, so people shouldn't expect it too. And besides, the growth we had before the crash was unsustainable. Slow and steady wins the race!
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