The European Union is a deep, deep depression. The Bank of England recently has informed it’s leftist government that the financially failing nanny state may have run out of the capacity to borrow any more money.
German has not been spared. Their economy is facing the an economic meltdown worse that Japan’s “Lost Decade”.
Read it here in the London Telegraph.
The declaration was made as it emerged that Eu-rope’s biggest economy has now suffered a worse “lost decade” than Japan and is deeper in recession than any other major economy.
On a day of dismal news for the European economy, official figures also showed that Italy, Austria, Spain and the Netherlands are facing their biggest combined slump in post-war history, sparking warnings about the potential for social unrest throughout Europe.
Now these are the economies that POTUS ObowMA is pointing to as a “shining example” of how America should run it financial policy. These sagging, failing economies it appears did a lot to bring the American economy down and bring on the current recession.
Blogger American Thinker puts up the real numbers and show why it was NOT the Bush policy, but the socialist Euros who brought the world economy down.