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(See "France: Out Of Recession, Into Uncertainty").. Europe's largest economy, Germany, also benefited from government measures to boost demand while exports suffer.
"The deep recession into space".
In the 1930s, protection turned recession into rout.
Of course, something unexpected could happen, to turn a modest recession into a true slump.
If you want to transform a recession into a depression, go ahead and cut public spending.
Increased applications to grad school have turned that option of sitting out the recession into a reach.
However...real hourly wages reversed course and rose sharply after the Lehman crisis turned the recession into a free fall.
Instead of bolstering Athens' finances, the austerity program in Greece was turning a recession into a near-depression.
The role of banking crises in turning a normal recession into a deep depression has also been recognised.
Now, forced by the recession into discounting, the chains are going beyond traditional advertising to get the word out.
After all, that's what policy makers did in 1931, and the resulting banking crisis turned a mere recession into the Great Depression.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com