>european union economic problems eat more at risk of people think, and deal shorter than their American counterparts. Now the fate of Europe may depend on events outside the limits of
As prime minister of the German state of North Rhine-Westphalia had the global financial crisis report , Jürgen Rüttgers is one of the largest industrial enterprises in order to save the earth from european union economic problems. So what did? He jumped from a plane in Detroit, of course. On February 18, Rüttgers met with General Motors, Rick Wagoner, chief executive officer in an attempt to persuade him not to shutter the factory in Bochum, where 5,000 workers sedans and minivans GM Opel badge. Rüttgers returned with little more than a weak assurance that GM has no plans for Opel plant to close – yet.
European banks will not write mortgages, but funding worse: the high risk countries that caused european union economic problems. Rüttgers pilgrimage “to the Motor City says a lot about how the european union economic problems in the United States, from the subprime problems -. The problem is that hardly anyone in Europe, but this region is no hard and fast, show. how closely the fate of Europe in the event the United States and around the world.
Not long ago, Europeans thought they avoided the worst of financial crisis. Now the region is suffering the first recession since the introduction of the euro ten years ago. In Spain and Ireland, bankruptcies doubled since 2007 and has risen by 11 percent in the continent as a whole. In the EU, unemployment reached 7.4 percent in December from 6.8 percent the previous year. And production in the countries of the euro area could fall 2 percent this year, the International Monetary Fund during contraction of 1.6 percent in the United States, predicts “no hope of our crisis is so severe,” , says Siemens CEO Peter Löscher.
Bank of the continent must be in writing subprime mortgages, but funding worse: the high risk countries. The former communist east sank into a recession that Western banks break the easy credit that fueled the growth of Asian style. Now, some experts say, the Soviet bloc countries in crisis in Asia in 1997 and 1998.
And how the mortgage company? European companies lost a $ 801 billion in debt coming due jump this year, the company almost a third more than in S. U. Some, such as chip maker Qimonda, headquartered in Munich and Swedish cars, Saab, saying they were destroyed. Based on the abundance of private equity debt proved a curse to others. Dutch petrochemical group LyondellBasell Industries is seeking bankruptcy protection for U.S. operations on February 9, 14 months after purchase, Houston-based Lyondell Chemical in a matter of 19 billion
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