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View Full Version : Is It Possible? Europe Into Recession BEFORE US?



Kathianne
07-18-2008, 12:12 AM
GASP!

Shock!

awe.

http://news.bbc.co.uk/2/hi/business/7511418.stm


Recession fears engulfing Europe

By Duncan Bartlett
Europe business reporter, BBC News, Brussels

A mood of fear and pessimism is starting to descend on Europe. It now seems the region could head into recession even before the United States.

Many EU nations are in real trouble. In Spain, economy minister Pedro Solbes declared that the country was facing its "most complex crisis ever" following a collapse of the property market.

A leading Spanish property group, Martinsa-Fadesa, filed for bankruptcy earlier this week.

Like Spain, Ireland has suffered a housing market collapse and many people have run up huge personal debts. The Irish economy shrank earlier in the year and economists say that if it continues to contract, the nation will fall into recession by the end of 2008. ...