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The only parts of Europe that are prospering right now are Germany and Scandinavia. Southern Europe is not recovering as it should. The Baltic states' economies are recovering, but then they have the Russian threat. Let's not forget about the Russian sanctions, which will hurt many European nations, particularly Germany and Scandinavia, more than Russia. Also, there may be fuel shortages in Europe this winter. Their market has more reasons to go down than up.
The only parts of Europe that are prospering right now are Germany and Scandinavia. Southern Europe is not recovering as it should. The Baltic states' economies are recovering, but then they have the Russian threat. Let's not forget about the Russian sanctions, which will hurt many European nations, particularly Germany and Scandinavia, more than Russia. Also, there may be fuel shortages in Europe this winter. Their market has more reasons to go down than up.
Even in Germany or Scandinavia the GDP growth is quite lower than in the US. Many European countries have not reached their pre-crisis GDP peaks and I think only Germany is just past it (but still lagging the US badly). It is still a bad mess in Europe. If you think it's bad here, don't look over there!
Like El-Erian said we are the least dirty shirt in the laundry basket. Not good news for the world at the moment.
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