Editorial Board
Reports of Europe’s Recovery Are Greatly Exaggerated
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Recent stirrings of optimism about Europe’s economy have been interrupted: New jobs figures and signs of a slide into deflation have ended some very premature celebrations. The region’s economic crisis isn’t over. The danger of a relapse into recession is real.
At its policy meeting Nov. 7, the European Central Bank ought to recognize this threat by cutting interest rates and taking other steps to ease monetary policy. The European Union’s leaders, meanwhile, should look hard at their long list of unfinished crash-prevention business and get on with it.