U.K. Slips Into Double-Dip Recession | Irish Sun

U.K. Slips Into Double-Dip Recession

International Herald Tribune Wednesday 25th April, 2012

LONDON - Britain has fallen into its first double-dip recession since the 1970s, according to official figures released Wednesday, a development that raised further questions about whether government belt-tightening in Europe has gone too far.

The report of an unexpected 0.2 percent decline in economic output during the first quarter of 2012 provoked an outcry in Britain, and came on the same day that Mario Draghi, the president of the European Central Bank, shifted his rhetoric on the debt crisis to put more emphasis on growth.

Mr. Draghi called for a "growth compact" and a re-examination of where the euro is headed.

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