Eurozone "Collectively" out of recession

Really2

got it.
http://www.telegraph.co.uk/finance/financetopics/recession/6418344/UK-economy-overtaken-by-Italy.html

Not official yet considering Italys perlim. GDP rise was slightly under forecast. (forecast was 0.8% actual was 0.6%)

But most embarrassing of all will be the news that as a result the UK has now fallen beneath Italy for the first time since the mid-1990s to become the world’s seventh biggest economy. In the third quarter of the year, Britain’s economy generated around £347.5 billion in cash terms. Italy’s economic output in the same period, based on conservative forecasts calculated by Citigroup, was some £350 billion.

Doubt it will be lower for the year though italy had it fairly tough at the start of the year.

edit,
sorry writing this before you posted link.

StevieJ

Really2 wrote: »

But I can't see us losing more than 6% this year so that would require Italy to grow 7% this year.

I honestly can't see it, perhaps if some one had a link I could understand it a bit better.

Edit
Actually could that be based on the € being stronger on the $ than the £ this year.

Italy moved away from us in 2008 in manufacturing.

http://investing.curiouscatblog.net/2009/10/13/data-on-the-largest-manufacturing-countries-in-2008/

Really2

StevieJ wrote: »

Italy moved away from us in 2008 in manufacturing.

http://investing.curiouscatblog.net/2009/10/13/data-on-the-largest-manufacturing-countries-in-2008/

See, Italy's unreliable cars are a cunning ploy for increasing exports of spares.

Quasar

Anyway, I wonder if the euro is now set to become the world's dominant currency - not yet of course, but considering that, as a whole the EU is the first economy in the world (see wikipedia link for 2008: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)) it should't be far coming.

Quasar

Really2 wrote: »

See, Italy's unreliable cars are a cunning ploy for increasing exports of spares.

Haa but that's if you buy fiat instead of Ferrari, or Lamborghini, or Maserati... :whistle: LOL

Really2

Quasar wrote: »

Haa but that's if you buy fiat instead of Ferrari, or Lamborghini, or Maserati... :whistle: LOL

No, Alfosi here.

In truth it is quiet reliable.

But I would hardly say the cars you mentioned are reliable fast bit not relaible. The Gallardo converts itself in to a BBQ on hot days. Which is nice if you have friends round but not if you are in it.
http://images.google.co.uk/images?hl=en&resnum=0&q=gallardo+fire&um=1&ie=UTF-8&ei=TID9Ssa1JpHbjQeP6bSVCw&sa=X&oi=image_result_group&ct=title&resnum=1&ved=0CBAQsAQwAA

lostinrates

Quasar I did post on the other thread about italy and DH remembering in Italy it being a big thing in the 90s, ...can't remember word now...Il Surpasso..

Milan is an important financial centre, exports from Italy, most visibly and stereotypically in food and clothing, are vibrant, and Italy, though it has bg issues with immigration, does not appear to have the same....pressure on the land as we do. There is a great pride, pride rather than patriotism perhaps, in home produced things and goods. People buy less often, where I was it was certainly a less wasteful society, but one that spent on good stuff. (the opposite of buy sheap buy twice). and home sourced stuff is Good, good, good. Its not so much insular as proud of its strengths.

I don't know what the situation is now, but I recall a lot of coverage of Italian emmigration being a big issue. Certainly a lot of DH's peers have ended up outside Italy...a lot here or in the States. A lot of DH's work peers aim for international practise in order to spend time abroad, many aim to be moved permanantly to NY.

Quasar

The question for Britain now is: the Pound of the Euro? While I perfectly understand the resistance to change in such a major definer of the UK's nationality and perceived sovereignty, the stark realities of global economics may need to win the day. As a national of a eurozone country already, I have no strong opinion on this matter, but I hope that the British will make the right decision whatever that may be, and go from strength to strength.

lostinrates

Quasar wrote: »

The question for Britain now is: the Pound of the Euro? While I perfectly understand the resistance to change in such a major definer of the UK's nationality and perceived sovereignty, the stark realities of global economics may need to win the day. As a national of a eurozone country already, I have no strong opinion on this matter, but I hope that the British will make the right decision whatever that may be, and go from strength to strength.

I have, in French friends come across the attitude that much of the weakness of Euro economics are down to UK not joining the Euro. Not in Italy though...may be people think (wrongly) I'd be offended.:D

A lot of people here feel the UK's independant currency has been the thing that has kept us afloat through this.

nearlynew

Quasar wrote: »

Haa but that's if you buy fiat instead of Ferrari, or Lamborghini, or Maserati... :whistle: LOL

I think you'll find that those so-called "supercars" have poor reliability as well.