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The economy is expected to contract more than 8 percent this year as the effects of last year's economic crisis linger, with growth not predicted to return until 2011.
There, a high share of adjustable-rate mortgages, high vacancy rates and slumping prices still too elevated for the local populous means should long-term bond yields climb, interest rates jump or the housing crisis linger much longer, things could go from bad to worse.
But the recovery has been sputtering in the Euro Area and Japan as legacies of the financial crisis linger.
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Despite the recent financial crisis' lingering effects, Dutch auction houses are still handling about $300 million in tulip sales each year.
As the crisis lingers on there's no sustainable growth and it's very important to design reforms that do not put pressure on poorer people".
So as the fiscal crisis lingers, some cities are weighing new fees on nonprofits for things like water service, street drainage and streetlights.
"In Europe," Mr. Davis said, "the debt crisis lingers on as more countries struggle with austerity measures that are pushing them into recession".
In the midst of the European debt crisis, lingering instability in the oil-rich Middle East and concerns about a Chinese economic slowdown, the American unemployment rate unexpectedly dropped last month to 8.6 percent, its lowest level in two and a half years.
DealBook » Deutsche Bank Earnings Plunge as Euro Crisis Lingers | Germany's largest lender said the turmoil made clients reluctant to trade in financial markets, resulting in a 46 percent decline in net income.
The Census Bureau offered the first detailed picture of population shift in the United States since the end of the recession, releasing data that showed that population growth in outer suburbs — the fastest growing areas in the last decade — all but ground to a halt in 2010 and 2011, as the painful effects of the housing crisis lingered.
"The slowdown in Europe has occurred as the legacy of the global financial and economic crisis lingers," he said.
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