Quote Originally Posted by the mojo View Post
The EU only worries about inflation,and not unemployment.
Germany the powerhouse of industrial might is in a 20% contraction.

In 2011 the average job creation was 208K for the year,that would mean it would take 12 years to come back to 2006 standards.

Commercial construction is dead and housing well just forget about seeing recovery until 2016.

Man does not live by car alone.
German 'wise men' trim 2012 growth forecast

The so-called "Five Wise Men", who advise the government on economic matters, said in a statement they expect Europe's biggest economy to expand by just 0.8 percent this year after 3.0 percent in 2011.

That represented a fractional downward revision from their last forecast released in October, when the experts had been pencilling in gross domestic product (GDP) growth in 2012 of 0.9 percent.
http://news.ph.msn.com/business/arti...mentid=5996693