On the Sunday, April 22 edition of FAREED ZAKARIA GPS , Fareed Zakaria reflected upon the effects of austerity budgets upon economic growth for Europe's economies. He also compares the economic projections for several of Europe's economies with those for the United States. The text for this commentary is below – a link to the transcript for the full program follows:
FAREED ZAKARIA, CNN HOST, “FAREED ZAKARIA GPS”: ...first, here's my take. A new poll in the United States shows that Americans are still deeply frustrated at the slow pace of the economic recovery. That's understandable. Unemployment stays stubbornly high. But I was just in Europe, and they think America is booming.
Consider this: the U.S. economy is on track to grow between 2 and 3 percent this year. In Europe, by contrast, half the eurozone economies are going to actually shrink this year and not one major European country will grow over 1 percent. FULL POST