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Brown embarrassed as France and Germany come out of recession but Britain lags behind

Posted By admin On August 13, 2009 @ 3:45 am In Money Watch | Comments Disabled

UK Daily Mail [1]
Thursday, August 13, 2009

Britain was left lagging behind Germany and France today as Europe’s two biggest economies officially came out of recession for the first time in a year.

The French and German economies both grew by 0.3 per cent in the second quarter of this year, surprising economists who had expected to see a 0.3 per cent fall.

The development will embarrass Gordon Brown and Chancellor Alistair Darling who last year claimed that Britain was ‘better placed than other economies to withstand the slowdown in the global economy.’

Brown embarrassed as France and Germany come out of recession but Britain lags behind  290509banner [2]

And the positive news from France and Germany stands in stark contrast with business sentiment in the UK where the economy shrank by 0.8 percent in the second quarter.

Germany is Europe’s largest economy and had contracted by 3.5 per cent in the first three months of the year.

‘The most brutal recession in German economic history since WWII… is over,’ said UniCredit analyst Andreas Rees.

Full article here [1]


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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/article-1206022/Mervyn-King-says-Its-worse-thought-Feeble-economic-recovery-doom-firms.html

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] Britain heading for triple-dip recession as GDP shrinks 0.3% in fourth quarter: http://www.prisonplanet.com/britain-heading-for-triple-dip-recession-as-gdp-shrinks-0-3-in-fourth-quarter.html

[4] Britain will be the ONLY major economy to fall into recession this year, experts claim: http://www.prisonplanet.com/britain-will-be-the-only-major-economy-to-fall-into-recession-this-year-experts-claim.html

[5] Germany and France reject Brown’s global economic recovery plan: http://www.prisonplanet.com/germany-and-france-reject-browns-global-economic-recovery-plan.html

[6] Britain under attack from 20 foreign spy agencies including France and Germany: http://www.prisonplanet.com/britain-under-attack-from-20-foreign-spy-agencies-including-france-and-germany.html

[7] Europe teeters on the brink of recession: http://www.prisonplanet.com/europe-teeters-on-the-brink-of-recession.html

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