Nov 14, 2008

Europe Economy Falls Into First Recession in 15 Years

Read the article on The Economist.

From Bloomberg:

"Gross domestic product in the 15 euro nations shrank 0.2 percent from the previous three months, when it also contracted 0.2 percent, the European Union's Luxembourg-based statistics office said today. The two quarters of contraction -- the result of this year's surges in the cost of credit, the euro and oil prices -- mark the first recession since the single currency was introduced almost a decade ago....."

Read the story here

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