European recession looms as Spain crumbles

[RobertB]

European recession looms as Spain crumbles

By Ambrose Evans-Pritchard
Last Updated: 1:08am BST 18/07/2008

The eurozone is tipping into a deeper downturn than America itself despite the tremors in the US mortgage industry, and may already be in full recession for the first time since the launch of the single currency.

European recession looms as Spanish housebuilding crumbles
No longer safe as houses: Buildings under construction near Barcelona

Industrial production for the EMU bloc fell 1.9pc in May, according to fresh Eurostat data. It is the sharpest one-month decline for the region since the exchange rate crisis in 1992. Officials in Berlin have warned that Germany's economy could contract by as much as 1.5pc in the second quarter as export orders crumble.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/15/ccspain115.xml

[HisAlways]

Europe is crushing under socialism. Their liberal immigration policies, along with their exhuberant entitlement costs will eventually be their headstone, if islamic extremism doesn't do the job first.

[RebMel]

Well, it makes sense. The Bible speaks of World Wide Famine, not just USA.

Interesting to see that they are already experiencing a shrinking gnp. Despite our problems, our gnp is still growing last I heard. Not by much. Not much more than nearly stagnate, but it hasn't gone into the negative. . . yet.

[Clutch Cargo]

I'm in Germany right now. I was sitting on a patio having french fries and a drink when all of the bluehairs came riding up on their bicycles. From the amount of coffee and cake they consumed (an afternoon German custom) one would hardly think of recession. Anecdotal I know, but an impression nonetheless.

[cryo]

I am sure Obama will come to the rescue, won't he?:heh

[european]

The EU is destroying the laid back lifestyle of southern Europeans.

[seekingtruth1]

The EU is destroying the laid back lifestyle of southern Europeans.

Can you elaborate a bit? Why did teh Lisbon treaty go through without a big wimper except in Ireland? Was that b/c THEY had a referendum versus trusting paid off politicians to make the decision in other countries?

[Buzzardhut]

I am sure Obama will come to the rescue, won't he?:heh
Change!

[Caver]

Without being specific, the potential for quick and drastic change world wide, not just in the US, seems to be growing exceptionally.

Get in prayer, stay in prayer and turn your discernment antenna to full power. I think we are going to need the Holy Spirit like few times in our history, certainly this generation's lives.