Word: euros
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Dates: during 2000-2009
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...further evidence was needed that the long-dreaded global economic slump is now upon us, the Eurozone - the 15-nation economic bloc that uses the common European currency - was formally declared to be in recession, for the first time since the euro was adopted nearly a decade ago. Oddly enough, Asian and European equity markets responded to the dismal news by posting gains of between 0.5% to 4% throughout...
...decline of its members' economies next year. That, the OECD forecasts, will be led by a 1% decline in growth in the U.S., a 0.5% contraction in Europe, and 0.1% downturn in Japan. Evidence to back that projection came with Friday's announcement that economic growth across the euro-zone decreased 0.2% in the third quarter of 2008 - the second consecutive contraction, which puts the region into recession by the most common benchmark...
...familiar refrain across Ireland. After more than a decade of runaway growth, the good times have ended. In September the Celtic Tiger, the best performing economy in the euro zone by some stretch in recent years, became the bloc's first to officially slide into recession. After expanding at three times the E.U. average between 1996 and 2007, Ireland's economy is expected to shrink by 0.75% next year, according to government predictions...
...construction mania fast became "a growth that squeezed all the other organs of the economy," says John Fitz Gerald, an economist at Dublin's Economic and Social Research Institute (ESRI). That starved Ireland's exporters of valuable resources. The result: the country's share of euro-zone exports has slipped by a fifth since 2001, while housing investment grew to 14% of Ireland's economy by 2006, roughly three times the European average. When values and demand began to fall - house prices fell 10% in the year to August, while apartments at the Grange are now selling at a rate...
...Jerusalem's complexities (nor does he speak much Hebrew). Plus, they say, his advisers are selling him all sorts of crazy schemes so they can grab his shekels. Gaydamak, they say, may be a billionaire in Russia, but in Israel he is a freier, or sucker. (See pictures of Euro 2008 soccer games...