Europe may be experiencing a "darkest hour before dawn" moment. Quite aside from the results of any easing of fiscal policies among the eurozone member states, there are signs of a spontaneous upswing just taking hold. The backward-looking data are terrible; the forecasts for this year for Italy and Spain bad almost beyond belief. Yet there are forward-looking indicators that, under the circumstances, are not too bad.
Reported by Independent 2 days ago.
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