Reports of ‘Tough Year Ahead’ for Eurozone Sets Stage for Further Austerity – 5 January 2012

By Nelson D. Schwartz of the The New York Times link to article:

Protesters hold a banner which reads “no to the austerity policy, raise the salaries” during a demonstration to protest against austerity measures in Paris, Tuesday, Dec. 13, 2011. (AP Photo/Michel Euler) “Europe’s leaders are bracing their nations for a turbulent year, with their beleaguered economies facing a threat on two fronts: widening deficits that force more borrowing but increasing austerity measures that put growth further out of reach.

“French President Nicolas Sarkozy will meet Jan. 9 with German Chancellor Angela Merkel to discuss a new fiscal treaty intended to impose stringent budget requirements on European Union nations.

In Euro Zone, Banking Fear Feeds on Itself

In Euro Zone, Banking Fear Feeds on Itself By LANDON THOMAS Jr. and NELSON D. SCHWARTZ Published: September 6, 2011

via NYTimes.com