PARIS: The 1990s have been Europe’s Janus decade. Having dispatched communism, much of the Europe that rests east of the Elbe faces strong growth and a brighter future. Europe’s western half, however, is facing darkness. Economic growth is at its lowest since World War II, averaging a scant 1.3% since the decade began. Prolonged slump imposes not only mass unemployment, but stagnant wages, increased poverty, and rising inequality. Europe’s bright hopes for the future have dimmed.
PARIS: The 1990s have been Europe’s Janus decade. Having dispatched communism, much of the Europe that rests east of the Elbe faces strong growth and a brighter future. Europe’s western half, however, is facing darkness. Economic growth is at its lowest since World War II, averaging a scant 1.3% since the decade began. Prolonged slump imposes not only mass unemployment, but stagnant wages, increased poverty, and rising inequality. Europe’s bright hopes for the future have dimmed.