After several false starts and much delay, Europe has finally managed to crank up its economic growth engine. But how long before it once again sputters? Preliminary second-quarter
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published by the E.U.'s statistics office last week showed that the 12 euro-zone countries, led by a resurgent Germany and France, enjoyed their strongest growth in six years, catching up with Britain, which continues to perform more robustly than even the prudent government anticipated.
The 0.9% quarterly rise in the euro zone was fueled by a sequence straight out of the textbook: firms enjoying...
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