The Recession in Europe

The European Commission released its revised — and bleak — economic forecast for the European Union. Europe is facing myriad troubles, including government denial of systemic economic problems, banking troubles and potential deflation. Unlike previous recessions in the twentieth century, Europe will have to rely on its own efforts to emerge from the current economic crisis. Editor's Note: This is the second part in a series on the global recession and signs indicating how and when the economic recovery will — or will not — begin.