Tuesday, May 26, 2009

Martin Wolf: Feeble domestic demand is a chronic European ailment...


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Financial Times
Martin Wolf
Wednesday May 27 2009

FT.com - Martin Wolf
 
Feeble domestic demand is a chronic European ailment
Recovery in Europe is likely to be slow and painful. One reason is that Germany, the EU's biggest economy, is heavily dependent on foreign spending. A fall in net exports will account for three-fifths of its 5.4 per cent economic shrinkage this year, writes Martin Wolf
http://link.ft.com/r/TWK799/KATIR/HETUC/63JYB/33AA7/28/h
 
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