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<blockquote data-quote="klein" data-source="post: 760073" data-attributes="member: 23950"><p><strong>Germany drives four-year high Euro economic revival</strong></p><p> </p><p><span style="color: indigo">Fri Aug 13, 6:05 AM</span></p><p> </p><p> </p><p>BRUSSELS (AFP) - Germany posted Friday its best quarterly growth since reunification, driving Europe past the US in the recovery stakes as the continent recorded its best economic performance in four years.</p><p> </p><p>Accelerating recoveries in Britain, France and even Spain also helped nudge Europe's main stock markets upwards, with only debt-laden Greece slipping deeper into recession as savage cuts scythe through spending.</p><p>However, with a growth rate of 2.2 percent between April and June, Germany was "playing in a league of its own," said senior ING economist Carsten Brzeski.</p><p> </p><p>Jennifer McKeown of London-based Capital Economics noted that the 1.0 percent expansion across the 16 eurozone nations and the 27-member European Union as a whole was "the sharpest in four years."</p><p>It beat a 0.7-percent forecast and outpaced that of the US, which posted a quarterly gain of 0.6 percent -- down from 0.9 percent between January and March.</p><p> </p><p>Europe had barely managed 0.2 percent growth up to March, but Britain also posted 1.1 percent growth with France holding at 0.6 percent -- providing welcome relief across the world's biggest open market as fears grow that the economies of the United States and China are running out of steam.</p><p> </p><p>After implementing draconian spending cuts in order to grasp its own 20-billion-euro lifeline from the EU and International Monetary Fund, Romania posted a quarterly growth rate of 0.3 percent.</p><p>The Baltic nations of Estonia and Lithuania also returned to positive growth, according to the official EU data, with only Sweden's recovery slowing, although it still logged a 1.2 percent improvement.</p><p> </p><p>With a 4.1-percent increase compared to the second quarter of 2009, "such quarter-on-quarter growth has never been recorded before in reunified Germany," the national Destatis office said.</p><p> </p><p>After suffering its worst post-war recession in 2009, "we are now experiencing XL growth," Economy Minister Rainer Bruederle added.</p><p> </p><p>The news was warmly welcomed by investors at the start of trading on Europe's stock markets.</p><p> </p><p>Other countries to fuel the sense of optimism included the Netherlands where GDP grew 0.9 percent in the second quarter.</p><p>Spain, which only came out of recession in the first quarter with a 0.1 percent spurt, saw its economy grow by 0.2 percent in the second quarter.</p><p> </p><p>The EU also released data showing the eurozone's global trade balance powering back into the black in June, with a 2.4-billion-euro surplus after a heavy deficit in May.</p><p> </p><p><span style="color: navy">All that being reported today, when has the US reported it's last trade surplus ?</span></p><p><span style="color: #000080">I believe 10 - 12 years ago !</span></p><p> </p><p><span style="color: #000080">And you know as well as myself, we won't see 6 weeks vacation or a 35hr work week here.</span></p><p><span style="color: #000080">That's the price to pay for having the highest paid CEO's, & the most billionaires and millionaires on the planet.</span></p><p><span style="color: #000080">Commercials that cost 500 Million during superbowl, and many millions for lobbying politicians.</span></p><p><span style="color: #000080">And ofcourse, like UPS, please shareholders, too.</span></p><p> </p><p><span style="color: #000080">Lowcost healthcare can never be available in the US, until you have a non per profit public option in place, that most americans do not want.</span></p></blockquote><p></p>
[QUOTE="klein, post: 760073, member: 23950"] [B]Germany drives four-year high Euro economic revival[/B] [COLOR=indigo]Fri Aug 13, 6:05 AM[/COLOR] BRUSSELS (AFP) - Germany posted Friday its best quarterly growth since reunification, driving Europe past the US in the recovery stakes as the continent recorded its best economic performance in four years. Accelerating recoveries in Britain, France and even Spain also helped nudge Europe's main stock markets upwards, with only debt-laden Greece slipping deeper into recession as savage cuts scythe through spending. However, with a growth rate of 2.2 percent between April and June, Germany was "playing in a league of its own," said senior ING economist Carsten Brzeski. Jennifer McKeown of London-based Capital Economics noted that the 1.0 percent expansion across the 16 eurozone nations and the 27-member European Union as a whole was "the sharpest in four years." It beat a 0.7-percent forecast and outpaced that of the US, which posted a quarterly gain of 0.6 percent -- down from 0.9 percent between January and March. Europe had barely managed 0.2 percent growth up to March, but Britain also posted 1.1 percent growth with France holding at 0.6 percent -- providing welcome relief across the world's biggest open market as fears grow that the economies of the United States and China are running out of steam. After implementing draconian spending cuts in order to grasp its own 20-billion-euro lifeline from the EU and International Monetary Fund, Romania posted a quarterly growth rate of 0.3 percent. The Baltic nations of Estonia and Lithuania also returned to positive growth, according to the official EU data, with only Sweden's recovery slowing, although it still logged a 1.2 percent improvement. With a 4.1-percent increase compared to the second quarter of 2009, "such quarter-on-quarter growth has never been recorded before in reunified Germany," the national Destatis office said. After suffering its worst post-war recession in 2009, "we are now experiencing XL growth," Economy Minister Rainer Bruederle added. The news was warmly welcomed by investors at the start of trading on Europe's stock markets. Other countries to fuel the sense of optimism included the Netherlands where GDP grew 0.9 percent in the second quarter. Spain, which only came out of recession in the first quarter with a 0.1 percent spurt, saw its economy grow by 0.2 percent in the second quarter. The EU also released data showing the eurozone's global trade balance powering back into the black in June, with a 2.4-billion-euro surplus after a heavy deficit in May. [COLOR=navy]All that being reported today, when has the US reported it's last trade surplus ?[/COLOR] [COLOR=#000080]I believe 10 - 12 years ago ![/COLOR] [COLOR=#000080]And you know as well as myself, we won't see 6 weeks vacation or a 35hr work week here.[/COLOR] [COLOR=#000080]That's the price to pay for having the highest paid CEO's, & the most billionaires and millionaires on the planet.[/COLOR] [COLOR=#000080]Commercials that cost 500 Million during superbowl, and many millions for lobbying politicians.[/COLOR] [COLOR=#000080]And ofcourse, like UPS, please shareholders, too.[/COLOR] [COLOR=#000080][/COLOR] [COLOR=#000080]Lowcost healthcare can never be available in the US, until you have a non per profit public option in place, that most americans do not want.[/COLOR] [/QUOTE]
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