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Steven Pearlstein: Signs the economy has shifted in the right direction

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In case you haven’t noticed, the economy is actually getting better. Noticeably better. Yes, it’s been painfully slow in coming, as we continue to tack against strong headwinds coming from Europe and the Middle East as well as the strong ebb tide created by the wind-down of fiscal stimulus. And certainly the recovery has been halting and uneven.

 

Eurozone unemployment ends 2011 at record high

EU Unemployment

Unemployment across the 17 countries that use the euro ended 2011 at a record high of one person in every 10, official figures showed Tuesday, a day after EU leaders acknowledged that they would have to boost economic growth with the same urgency that they had shown in combating their nations' debts....

 

World Bank’s action on Europe reflects fear of another global meltdown

The World Bank is moving to prop up the European banking system in response to the crisis in the region, echoing the steps it took during the 2008 world crisis and reflecting heightening fear that the euro’s problems are starting to crimp the global economy.

 

Momentum to drain from world economy in 2012: poll

The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth.

 

Greece must stick to reforms in 2012 to stay in euro: PM

Greece faces another tough year in 2012 but must stick to its program of austerity and reform to stay in the euro, Prime Minister Lucas Papademos said in a pre-recorded New Year's Eve address.

 

On 10th anniversary, euro takes blame for economy

Just three years ago, the euro was being praised as the can-do currency that had delivered unprecedented prosperity in Europe. Now, it's widely derided as a hugely flawed experiment in the wake of a debt crisis that's threatening its very existence — an uncomfortable backdrop as the currency's notes and coins hit their first decade in circulation on Jan. 1.

 

China says already part of effort to help Europe

China: Europe Debt

VIENNA (Reuters) - China will remain part of international efforts to help Europe through its crisis, vice foreign minister Fu Ying said on Saturday, dismissing the idea that Beijing was sitting back as the region suffered.

 

Germany and France clash on ECB crisis role

Germany and France clashed on Wednesday over whether the ECB should take bolder steps to stem the euro zone debt crisis, with Chancellor Angela Merkel issuing one of her starkest warnings yet against fiddling with the central bank's strict inflation-fighting mandate.

 

Greece's Papademos wins confidence vote on austerity measures

Greece's new prime minister, Lucas Papademos, won a crucial confidence vote Wednesday on severe austerity measures to be made in exchange for more bailout funds to help the country step back from the brink of bankruptcy.

 

Monti forms new Italian govt with no politicians

Monti forms new Italian govt with no politicians

Economist Mario Monti formed a new Italian government without a single politician Wednesday, drawing from the ranks of bankers, diplomats and business executives to make sure Italy escapes looming financial disaster....

Senh: Nice. Politicians in America have been pretty useless. Let's how a government without them can do. It's unique and bold move.

 

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