Canada faces recession unless US avoids fiscal cliff-Flaherty

Canada faces recession unless US avoids fiscal cliff-Flaherty Reuters OTTAWA Nov 7 (Reuters) - Canada will fall into recession if Washington does not reach a deal by year-end to avert the so-called fiscal cliff, Finance Minister Jim Flaherty said on Wednesday. Unless the White House and Congress agree how to cut the U.S. ... See all stories on this topic »

European economic recession worse than expected, leaders say San Jose Mercury News BRUSSELS -- Europe's economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, as it downgraded next year's forecasts for the 27-country bloc. See all stories on this topic »

Fiscal cliff, recession threat take center stage on Wall Street Los Angeles Times If Obama cannot successfully resolve the crisis with a House still controlled by Republicans, economists have warned that the "cliff" could slow growth and push the U.S. back into recession. "We've gotten certainty on the presidency and now we move ... See all stories on this topic »

The economy Obama faces: Slow but gaining steadily The Associated Press And, oh yes, an economy that risks sinking into another recession if Congress can't reach a budget deal to avert tax increases and deep spending cuts starting in January. Yet the outlook isn't all grim. Signs suggest that the next four years will ... See all stories on this topic » The Associated Press

Long Greek recession can end next year: EU Reuters ATHENS (Reuters) - Greece's battered economy will begin to claw its way out of a six-yearrecession in the second half of next year and grow modestly in 2014, the European Commission forecast on Wednesday. Offering a more optimistic outlook than the ... See all stories on this topic »

EU Says Cyprus Recession to Last Longer Than Previously Forecast Businessweek The recession in Cyprus will be longer and deeper than previously forecast as the country tries to rein in its budget deficit and investor confidence sours, according to the European Commission. Gross domestic product will fall 2.3 percent this year, 1 ... See all stories on this topic »

UPDATE 1-Japan Sept core machinery orders tumble, recession eyed Reuters Sept machinery orders -4.3 pct vs forecast -1.8 pct * Govt maintains view on machinery orders * Current account surplus -68.7 pct vs forecast -51.9 pct * Analysts say economy has been weakening since spring By Kaori Kaneko TOKYO, Nov 8 (Reuters) ... See all stories on this topic »

US futures reverse course, fall on European crisis The Seattle Times U.S. futures reverse course, fall on European crisis. U.S. stock futures reversed course and declined sharply Wednesday after dire warnings from Europe of a broad recession there is now all but certain. The Associated Press ... See all stories on this topic »

EU: Eurozone recession to be worse, rebound slower The Associated Press By SARAH DiLORENZO, AP Business Writer – 2 minutes ago. BRUSSELS (AP) — Europe's economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, ... See all stories on this topic »

The Great Recession Is Just Like The Great Depression Forbes The parallels between the Great Recession we're suffering through now and the Great Depression pre WWII are rather closer than many seem to think. And no, I don't mean in the sense that “Wall Street messed up now we're all suffering”. Nor even in the ... See all stories on this topic »