Both France & Germany contract

Graham_Devon

Not sure how we can escape being weighed down by this...

The German and French economies both contracted in the final three months of 2012, official figures have shown.

Germany - the eurozone's largest economy - saw its gross domestic product (GDP) shrink by 0.6% as exports declined.

That was the deepest contraction since the first three months of 2009 - the height of the financial crisis.

The French economy shrank by 0.3% in the fourth quarter, while Italy showed 0.9% contraction for the period.

http://www.bbc.co.uk/news/business-21455423

Generali

Graham_Devon wrote: »

Not sure how we can escape being weighed down by this...

http://www.bbc.co.uk/news/business-21455423

Very true.

The banks may have started this mess but European Big Government seems determined to keep it going.

homelessskilledworker

Generali wrote: »

Very true.

The banks may have started this mess but European Big Government seems determined to keep it going.

Since 2007/08 the UK economy(can't speak for the others, but I am sure there are similarties) has been like a huge great big zit/boil that won't heal.
The medics(Government) have decided in their wisdom to keep touching up the infected area with a little surgical spirit and constantly changing the dressing at great expence when the only thing that is needed is a little nerve and a sharp amount of instant pain is to give it one almighty squeeze and watch it explode and clear it of all the puss and gunk. Then after a very short rest watch it heal in no time at all, and then get back to work

HAMISH_MCTAVISH

Germany - the eurozone's largest economy - saw its gross domestic product (GDP) shrink by 0.6% as exports declined.

The inevitable result when you force your main trading partners into an impossible position to avoid inflation at home.

james_toney

homelessskilledworker wrote: »

Since 2007/08 the UK economy(can't speak for the others, but I am sure there are similarties) has been like a huge great big zit/boil that won't heal.
The medics(Government) have decided in their wisdom to keep touching up the infected area with a little surgical spirit and constantly changing the dressing at great expence when the only thing that is needed is a little nerve and a sharp amount of instant pain is to give it one almighty squeeze and watch it explode and clear it of all the puss and gunk. Then after a very short rest watch it heal in no time at all, and then get back to work

excellent post, been saying the same thing myself since 2008 they just wont do it, they much rather limp along at great cost to the people and country :mad:

Generali

HAMISH_MCTAVISH wrote: »

The inevitable result when you force your main trading partners into an impossible position to avoid inflation at home.

Germany wants to run a trade surplus. That worked just fine when they were prepared to finance the deficit on the other side.

Now they're finding out how maths works: if they don't want to finance any more deficits then their surplus has to go too.

ruggedtoast

Generali wrote: »

Germany wants to run a trade surplus. That worked just fine when they were prepared to finance the deficit on the other side.

Now they're finding out how maths works: if they don't want to finance any more deficits then their surplus has to go too.

Yep, no sympathy from me.

dryhat

What's so good about "growth" anyway?

Thrugelmir

homelessskilledworker wrote: »

Since 2007/08 the UK economy(can't speak for the others, but I am sure there are similarties) has been like a huge great big zit/boil that won't heal.

Underlying UK economy has improved considerably.

The issues that are holding growth back are Government debt, Consumer debt and the banks.

So maybe the next decade is going to be very pedestrian.

purch

Lots of running just to stay still :eek:

michaels

homelessskilledworker wrote: »

Since 2007/08 the UK economy(can't speak for the others, but I am sure there are similarties) has been like a huge great big zit/boil that won't heal.
The medics(Government) have decided in their wisdom to keep touching up the infected area with a little surgical spirit and constantly changing the dressing at great expence when the only thing that is needed is a little nerve and a sharp amount of instant pain is to give it one almighty squeeze and watch it explode and clear it of all the puss and gunk. Then after a very short rest watch it heal in no time at all, and then get back to work

Yep - lets have a 15% contraction in GDP as after that we will have no trouble returning to 3% pa growth, so much better than stagnating. The politicians are so stupid not to grasp this.