Growth of Euro-Area Economy Beats Forecasts

[dtotire]

By JACK EWING and MATTHEW SALTMARSH
Published: August 13, 2010

The euro-area economy grew 1 percent in the second quarter, a much better rate than had been expected, as Germany’s best quarterly performance since reunification compensated for slow growth in Spain and Italy and a sharp decline in Greece, according to data released Friday.

The rise in gross domestic product in the 16-nation euro area was the fastest in four years, Eurostat, the European Union’s statistics office, reported. It compares to a 0.2 percent bump in the first quarter.

read the rest:
http://www.nytimes.com/2010/08/14/business/global/14euro.html?hp



How can this be? These countries are all SOCIALIST!

[xchrom]

1. Recommend

[RainDog]

2. this recession has become an education in the value of social democracy

and the failure of American right wing capitalism.

[ellenfl]

3. k&r for the socialists. eom

[bemildred]

4. Socialism works! nt

[doc03]

5. Joe Scarborough said it is because the EU has cut

spending and is working on reducing their deficits. (Reaganomics)