Skip to comments.Warning To USA: Euro Area Q3 GDP Rises By 0.1%, France, Italy and Cyprus Contract
Posted on 11/14/2013 6:28:09 AM PST by whitedog57
Well, the much touted Euro Area recovery is just so much noise. According to Eurostat, Q3 GDP growth in the Euro Area was a meager +0.1%. The US looks like the growth dynano compared with the Euro Area, particularly France.
Europe Q3 GDP
The biggest gainer in Europe? Romania at +1.6%. The biggest losers were Cyprus at -1.2% and the Czech Republic at -0.5%.
Europe GDP map
France and Italy both declined at a -0.1% rate.
Europe Q3 GDP total
Combine slow Euro Area growth with their massive banking system, particularly France, and we have a George Takei Oh my! moment. Particularly, France which has the highest bank asset (loan) to GDP ratio in the world.
Global bank assets % of GDP_0
For Frances sake, they had better change course away from Socialism and back to a free market economy. The USA should heed this warning as well.
Just wait until the reality of 3x increase in health premiums kicks in. Our economy will sink faster than the Titanic.
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