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Warning To USA: Euro Area Q3 GDP Rises By 0.1%, France, Italy and Cyprus Contract
Confounded Interest ^ | 11/14/2013 | Anthony B. Sanders

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 France’s sake, they had better change course away from Socialism and back to a free market economy. The USA should heed this warning as well.


TOPICS: Business/Economy; Government; Politics
KEYWORDS: france; obama; socialism
Our future is France ... or Cyprus.
1 posted on 11/14/2013 6:28:09 AM PST by whitedog57
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To: whitedog57

Just wait until the reality of 3x increase in health premiums kicks in. Our economy will sink faster than the Titanic.

2 posted on 11/14/2013 6:54:56 AM PST by DownInFlames
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