"Am I therefore become your enemy,because I TELL YOU THE TRUTH...?"
(Galatians 4:16)

Thursday, May 27, 2010

Debt crisis is dark cloud over Europe

The eurozone’s debt crisis hangs like a dark cloud over Europe’s economic prospects. But it is not yet clear that the Continent’s slow recovery from its worst recession since the second world war will be blown off course.Convincing evidence has yet to emerge of Europe's main economies taking a turn for the worse as a result of the global financial storm created in its own backyard. Germany’s Bundesbank said on Wednesday that so far market turmoil had not affected Europe’s largest economy, which had grown “sharply” in the second quarter. The Paris-based Organisation for Economic Co-operation and Development revised up its forecasts for eurozone growth this year and next, although it highlighted risks to the global outlook...

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