2010 has clearly been a difficult year globally. It began with much
relief and congratulations all round, based on perceptions that the
financial crisis had been handled effectively, that the Great Recession
was over and that significant economies (especially in the developing
world) were powering their way back to rapid growth…..Unfortunately, it
seems today it is evolving on a much more tentative and even troubled
note.
The rebounding of output barely touched unemployment, which remains at historically high levels in most countries. The sovereign debt problems in Europe are just an indication that the financial crisis is far from over, and will continue to reveal itself in new forms for quite some time to come. Meanwhile, the stingy and (so far, at least) visionless response of the stronger economies to the crises in peripheral Europe has condemned them to intensified contraction and ensured that the EU will generate little growth and much instability in the near future.......http://goo.gl/DbMHk
The rebounding of output barely touched unemployment, which remains at historically high levels in most countries. The sovereign debt problems in Europe are just an indication that the financial crisis is far from over, and will continue to reveal itself in new forms for quite some time to come. Meanwhile, the stingy and (so far, at least) visionless response of the stronger economies to the crises in peripheral Europe has condemned them to intensified contraction and ensured that the EU will generate little growth and much instability in the near future.......http://goo.gl/DbMHk
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