RECESSION

Is Europe Bad for the Economy?

The U.S. may have gotten Europe into the recession, but Europe may keep the world from getting out. Yesterday Britiain announced that its economy was at its worst in 30 years, joining Germany and Italy on the list of European countries with increasingly bleak economic outlooks. As the financial sector ails across the continent, leaders are considering following the States’ lead and conducting stress tests on European banks. Until it improves however, experts are saying that Europe is going to hold the rest of the world back from economic recovery. Said Treasury Secretary Tim Geithner on Thursday: “Recovery here depends on recovery abroad. Our financial reform effort in the United States must be matched by similarly strong efforts elsewhere in order to succeed.”