Eurozone Watch

First part of our series on the winners and losers of the current crisis 

Continental watchers of British politics have been surprised by the recent rehabilitation of the British Prime Minister. During the summer recess, the UK media had, after all, been alive with speculation that Gordon Brown would be deposed by his own party. To all intents and purposes, Brown was a political zombie. Yet, as the country’s financial crisis deepened, this speculation lulled. Brown was given a new lease of political life.

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With the world economy tumbling ever deeper into the economic abyss, it is exceedingly hard to find a single positive aspect of the crisis. Given the speed and momentum the downturn has reached, no sector of the economy seems immune to the fall-out of the contraction. Orders are being cancelled everywhere and business is down from manufacturing to services, even if the last are yet less affected.

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