Here in the US the mainstream media is tut-tutting about an economic pause as
growth declines to 3.1 percent on an annual rate. But in their favorite global
region, Europe, growth is really pausing, down at 0.4 percent, and in Italy, they are
having a real recession.
So what could be the problem in good old Europe? Could it be taxes? Could
it be government spending? Could it be restrictive labor markets? Or could
it be all three? In fact, to stretch a point, could the problem
be that the Europeans have exactly the economic policy that Democrats
want to create in the United States?
Brian Carney
has the details.
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