European Business - Europe from bad to worse.
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Midterm Project: Macro and International Economics Student: Quach Thi Thu Hien HT 024533U European Business: EUROPE: FROM BAD TO WORSE By David Fairlamb in Frankfurt, with John Rossant and Christina Passariello in Paris, Kerry Capell in London, and Jack Ewing in Frankfurt The article shows a gloomy picture of the economy across the Euro-zone. After a dismal 2001 and a sluggish 2002, people had hoped 2003 would be the year of recovery but things seem to be going from bad to worse. Growth of 1% for the Euro-zone is now conservatively estimated, instead of 3-5% of growth rate expected initially. There are many factors contributing to this situation; oil prices are rising, the euro is soaring, government budget woes are mounting but above all, the Iraq war fear is keeping people from consuming, and investing. Let's us go behind the scene to have a view on how these factors affect the economy Growing fear of...


