Despite its relative resilience the European economy is obviously not immune from the deterioratin...
Despite its relative resilience the European economy is obviously not immune from the deteriorating global environment. Europe's trade exposure to the US is limited compared to most other regions, but weaker foreign demand will obviously have some impact. Conversely, there should be some positive effects from lower interest rates and lower commodity prices. Consumer spending, which represents nearly 60% of GDP, should also hold up fairly well, aided by income tax cuts in France, Germany, Italy and the Netherlands, provided unemployment does not increase significantly. The current econ...
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