Euro zone falls into second recession since 2009

Because central planning by internationalist socialists works so well…

It works well at chasing wealth and jobs out of a country.


The euro zone debt crisis dragged the bloc into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday.

The French and German economies both managed 0.2 percent growth in the July-to-September period but their resilience could not save the 17-nation bloc from contraction as the likes of The Netherlands, Spain, Italy and Austria shrank.

Economic output in the euro zone fell 0.1 percent in the quarter, following a 0.2 percent drop in the second quarter.

Those two quarters of contraction put the euro zone’s 9.4 trillion euro ($12 trillion) economy back into recession, although Italy and Spain have been contracting for a year already and Greece is suffering an outright depression.

A rebound in Europe is still far off. The debt crisis that began in Greece in late 2009 is still reverberating around the globe and holding back a lasting recovery.

Analysts said even the euro zone’s top two economies were likely to succumb in the final three months of the year.

About Chuck Norton

Political issue strategist and communications professional. I write about politics, education, economics, morality and philosophy.
This entry was posted in Econ, Europe, Global Security, Taxes, True Talking Points and tagged , , , , . Bookmark the permalink.

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