European Union Collapse Thread

http://www.businessweek.com/ap/2012-03/D9TLMRI00.htm

Ireland back in recession as economy shrinks in Q4


Irish gross domestic product (GDP) shrank 0.2 percent in the fourth quarter after a contraction of 1.1 percent in the third quarter, the Central Statistics Office (CSO) said in a statement.

Gross national product -- a measure many economists prefer to use for Ireland because it excludes the exported profits of multinational companies -- fell by a much sharper 2.2 percent. That followed a GNP fall of 1.9 percent in the third quarter, suggesting a much harsher recession for Irish households and businesses.

http://news.sky.com/home/business/article/16198595

Britain has returned to recession, forecasters from the Organisation for Economic Co-operation and Development say.

The economy shrank by 0.3% in the quarter in the last quarter of 2012 and is expected to see a further contraction in the first three months of this year, according to the OECD.

http://www.telegraph.co.uk/finance/f...c-history.html

Spain unveils 'most austere' Budget in democratic history

Spain unveiled "the most austere budget in democratic history" with €27bn of cuts and a 7pc rise in utility bills but still failed to win over economists.

http://hat4uk.wordpress.com/2012/03/...u-peripherals/

Yesterday afternoon’s decision by the German Bundesbank to refuse acceptance of Greek, Irish or Portuguese sovereign/bank bonds has dealt a blow to the Eurozone which few informed observers think it can survive. With the help of sources, The Slog digs into what’s really going on here.