Check out this story from Reuters, commenting on the latest survey results on European manufacturing.
Euro zone factory activity falls, periphery pain intense | Reuters.
For me, this is more evidence that policy-makers have been far too aggressive with austerity measures. In my view, they should be focused towards stimulating demand, with focus on investment and jobs.
- Euro Zone Economy Shrank in Fourth Quarter of 2011 (nytimes.com)
- Beyond Greece (economist.com)
- ECB offers banks second, maybe last, mega funds fix – Reuters (reuters.com)
- After Greece, Europe sits on brink of recession (vancouversun.com)