Comment on Eurozone slides back into recession

World News From SFGate, San Francisco Chronicle: World
Thu, 11/15/2012 - 8:01am

Eurozone slides back into recession

Eurozone Recession

Eurozone slides back into recession Associated Press Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 7:00 a.m., Thursday, November 15, 2012 LONDON (AP) — The 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region's financial crisis was felt from Amsterdam to Athens. [...] with surveys pointing to increasingly depressed conditions across the 17-member group that uses the euro at a time of high unemployment in many countries, there are fears that the recession will deepen, and make the debt crisis — which has been calmer of late — even more difficult to handle. "The eurozone economy will continue its decline in Q4 and probably well into 2013 too — a good backdrop for another debt crisis," said Michael Taylor, an economist at Lombard Street Research. Because of the eurozone's grueling three-year debt crisis, the region has been the major focus of concern for the world economy. The eurozone had managed to avoid returning to recession for the first time since the financial crisis following the collapse of U.S.

 

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