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Politics : View from the Center and Left

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To: JohnM who wrote (216997)	2/14/2013 4:56:15 PM
From: Wharf Rat	Read Replies (3) of 541604

Krugman was right... austerity kills Euro zone economy plunges deeper into recession Economic output in the 17-country region fell by 0.6 per cent in the fourth quarter, the EU’s statistics office Euros tat said on Thursday, following a 0.1-per-cent drop in output in the third quarter The drop was the steepest since the first quarter of 2009 and more severe than the average forecast of a 0.4-per-cent drop in a Reuters poll of 61 economists. For the year as a whole, gross domestic product (GDP) fell by 0.5 per cent It marked the currency bloc’s first full year in which no quarter produced growth, extending back to 1995. theglobeandmail.com

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