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WEDNESDAY, NOVEMBER 25, 2009
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France, Germany Pull Out of Recession

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(Newser) – The two largest economies in Europe pulled out of the recession last quarter, with Germany and France both posting 0.3% growth between April and June, reports the Wall Street Journal. The figures were far better than expected, and the French finance minister described the result as "very surprising." But Holland, Italy, and other eurozone countries continued to contract, and as a whole the bloc is still in recession with an overall dip of  0.1% this quarter.

Reaction to the surprise growth was mixed, and economists debated whether the recovery was stable. French officials maintained that consumer spending had helped to pull the country back into the black, and in Germany soaring exports helped the bottom line. But others said that stimulus packages made the difference; one German banker said that as long as banks stay reliant on government, "we can't assume that the crisis is over."

Christine Lagarde, the French finance minister, said today's figures were
Christine Lagarde, the French finance minister, said today's figures were "very surprising. After four negative quarters France is coming out of the red."   (AP Photo/Thierry Charlier.)
German Chancellor Angela Merkel shares a laugh with French President Nicolas Sarkozy.
German Chancellor Angela Merkel shares a laugh with French President Nicolas Sarkozy.   (AP Photo / Armando Franca)
Angela Merkel welcomes Nicolas Sarkozy to a meeting of the German and French governments in Berlin, Germany, earlier this year.
Angela Merkel welcomes Nicolas Sarkozy to a meeting of the German and French governments in Berlin, Germany, earlier this year.   (AP Photo/Michael Sohn)
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7 comments
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DontLikeYou
Aug 13, 09 7:21 AM CDT
Wall street journal - speaking Obama's language. Recession = Success. I hope the Obama admin will continue to tell the American people that all is well because the American people are not as stupid as liberals and Wall Street (Obama's pals) think that we are. I sense a return to conservative governance in 2010. Reply
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npkimmey
Aug 13, 09 9:18 AM CDT
This article is about France and Germany, not Obama.
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IN RESPONSE:
Corona_Kinq
Aug 13, 09 12:56 PM CDT
@ dontlikeyou - The Wall Street Journal is run by Rupert Murdoch...who also owns Fox News. If you believe they are in bed with Obama you need to get out more. You know what? You have to be a troll...I can't possibly believe anyone would make that statement and be serious....simply classic.
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+3
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kokuaguy
Aug 13, 09 3:31 PM CDT
You sense that hula hoops and Hummers will make a big come back too, I suppose. ; ^)
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cognitivefilter
Aug 13, 09 10:46 PM CDT
@ you two conservatives: you're both wrong. obama works for the bankers, so he is naturally involved with wall street. dontlikeyou: liberals aren't the only stupid ones, it's anyone who doesn't realize that we are slaves to the economy, no matter who is 'in power.' this is not about the left-right paradigm it is about the small percentage of people who manage and hold the entire wealth of this country.
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