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Sunday, January 20, 2013
Europe's Economy: A Pessimistic Outlook
The European vicious cycle can be explained as follows: low economic growth and high government spending. Except Germany, none of Europe's biggest economies have returned to the level of economic output they had at the beginning of 2008. This article describes how bad the economic situation is, with a focus on the PIIGS (Portugal, Ireland, Italy, Greece, and Spain).
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