Europe: Some Smoother Seas

TIME'S board sees growth up and inflation down but frets about the jobless

After some hesitation, the signs of economic recovery that are now so evident in the U.S. have finally reached the countries of Western Europe. Buoyant American optimism about the strength of the recovery, however, has so far failed to make the transatlantic crossing. Meeting in Vienna last week, the TIME European Board of Economists showed a caution bordering on skepticism about early evidence that the three-year-long grueling recession was at last over. The board's forecast for the nine major European countries* predicted recovery, but it was hardly cheery:...

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