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.
crying-frenchman500x368
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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