Europe: Recovery Is Likely to Be Slow

Economic recovery is spreading across Europe following the dramatic slump in activity in late 2008 and early 2009. Growth is expected to continue into 2010 but is likely to remain fragile because consumer demand is still weak. Much of the current growth in Europe is a result of government-backed stimulus packages, and the improvement could stall when these schemes come to an end, economists say. Most European governments have run up massive budget deficits through their efforts to mitigate the effects of the downturn, and the spending cuts and tax rises required...

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