Europe

Facing the Deepest Recession in Years Economies in the European Union (EU) are still reeling from the tumultuous events of late 2008. The deepening credit crisis led to large-scale government bailouts of banks, and rescue packages are expected to follow in 2009 for some leading industrial companies. The onset of a recession also caused national governments and the European Commission to launch fiscal packages to stimulate EU consumer demand. Economists are not entirely convinced that the initiatives will be successful, particularly because credit is still in...

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