[fintstone]

European countries that did not pass gigantic stimulus packages have apparently already emerged from recession...while our crazy policies have mored us even deeper...

Business News


US dollar slumps, euro lifted by data showing end of recession

NEW YORK: The US dollar lost ground against the other main currencies on Friday, as the euro was boosted by news the eurozone had pulled out of recession in the third quarter.

The single European currency traded up at 1.4911 dollars at 2200 GMT against 1.4845 late Thursday in New York.

The dollar dipped to 89.66 yen, from 90.34.

Europe's deepest recession since World War II officially ended when data showed Friday the 16-nation eurozone grew 0.4 percent and the full European Union expanded 0.2 percent in the past quarter.

Growth of 0.7 percent in Germany, Europe's most powerful economy, and 0.3 percent in France, lay behind the improvement across the eurozone.

"The message is that the recovery has begun, but the upswing will be a moderate and gradual affair as domestic demand will remain lacklustre," said Fortis economist Nick Kounis...