Europe's economies show signs of weakness

Many of the European economies are in an unstable situation. The precarious economic state of Greece, Portugal and Spain has brought the concept of the euro and European monetary union into the glare of scrutiny as never before. The news that one of Europe's leading economies, the United Kingdom, looks set to stagnate this year is really a worrisome. It is feared that continued recession in Europe would be felt around the world. Questions are being asked about the viability of the European Union itself. There is therefore a strong case for the European countries to abandon no-liberal policies and for creating an interventionist policy, which would reinvigorate the industry and thereby create more job opportunities, which will generate more effective demand. Dr. C.Murukadas, The Economic Times, 8 Aug, 2012