Not Much Different Over Here

The euro zone economy shrank for a record sixth consecutive quarter in the first three months of the year, according to data released Wednesday. But when European heads of state meet next week in Brussels, don’t look for any big announcements about plans to stimulate growth.


Europe, experts say, seems to be in policy paralysis. With Germany, the Continent’s economic heavyweight, in the grip of pre-election politicking, no big European policy moves are likely until after that country’s elections in September. Even then, it is not clear that anyone has any masterstrokes planned.

NOT LIKE ANYBODY IS SUFFERING OR ANYTHING.

Soros warns Germany will join in Eurecession

Despite the fact that Germany expects a slightly positive growth in GDP this quarter, billionaire investor George Soros says they will be in recession by September, joining other Eurozone countries mired in financial woe. He blames their continued push for austerity across the Eurozone, in the face of declining exports to the rest of Europe, which account for 40% of Germany's international trade.