Friday, March 19, 2010

Europe's bruised economies search for way forward

http://finance.yahoo.com/news/Europes-bruised-economies-apf-509572434.html?x=0&sec=topStories&pos=6&asset=&ccode=

People all over the world are asking this question.
Isn't it a coincidence they're all asking it at the same time?
And what do all of them have in common to have to make them ask such a question?
"The Banks"

After the boom, where does growth come from now?


The wreckage of Spain's economic growth model stands neatly aligned on the roads leading out of Madrid -- row after row of unsold houses, windows dark, for-sale signs out front.

Spain and other countries on Europe's financially stricken fringe are groping for a new basis from economic growth to put people to work and pay down crushing deficits and debts. In Spain's case, something to start generating jobs for 4 million unemployed people amid the rubble of an unsustainable construction and housing boom.

The question is especially urgent in countries with the eurozone's messiest public finances: Spain, Portugal, Ireland, and Greece.