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Mariela Baeva
Mariela Baeva
Member of the European Parliament for Bulgaria
2007 - 2009
(first direct EP elections in Bulgaria);

LEED to OECD partner (Nanotech)

The global economy is weakening again

The global economy is weakening again” 

If you’ve been following economic events over the past five years, the headline on this posting – which is also the opening line from the OECD’s latest Economic Outlook – won’t surprise you. In the wake of the financial crisis, a pattern has emerged: global recovery is weak, doesn’t last long, and soon gives way to a slowdown if not outright recession.A major factor behind this latest slowdown is a loss of confidence, and that in turn is being fuelled in part by events on either side of the Atlantic. In Europe, despite progress in creating systems to shore up the euro, governments still have some way to go before finally fixing the single currency. In the United States, legislators have until only the end of next month to steer away from the “fiscal cliff”. Tipping over the edge would automatically raise taxes and cut government spending.

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