Europe's Economic Problems
April 8, 2003
Europe faces rising unemployment at a time when the continent is close to a recession. In addition, these deep structural problems need urgent attention:
- Germany's banking industry may require a bailout.
- European corporations have had their own Enron-type accounting scandals, with a similar fall in investor confidence.
- European stock prices have fallen further than stocks in the United States.
- Some of Europe's proudest corporate names are in deep trouble, from Italy's Fiat to France's Alstom and Germany's ThyssenKrupp.
Source: John Rossant, "Europe Can't Afford to Stay Mad for Long," BuisnessWeek, March 31, 2003.
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