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Trends-Tendances - Belgium | Tuesday, May 26, 2015

Botox economy only hides the crisis

In an interview with the French magazine L'Expansion at the end of April, economist Daniel Cohen warned against believing that the euro crisis was over. For Cohen, none of the Eurozone's fundamental problems have been solved. A complete indictment of Europe's governments, the business magazine Trends believes: "As Daniel Cohen reminds us, a true end to a crisis translates into a drop in unemployment and renewed investment. In Europe we have neither one nor the other. What we do have is a recovery without more jobs, while in the US it's a recovery without pay! This is definitely not a glorious result for the governments that have spent the last seven years fighting this mother of all crises! The bottom line is that we've slid into a sort of botox economy: the wrinkles are hidden, but not the age. In other words, the crisis is still with us!"

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