Last summer, things looked bad on both sides of the Atlantic. There were fears of double-dip recessions, and stubbornly high unemployment rates. Stock markets swooned.
Now, the pictures appear very different. The unemployment rate in the United States has been steadily falling, while the unemployment rate in the euro zone has climbed to its highest level since the currency was introduced more than a decade ago. There is still some double-dip talk in the United States, but in many European countries it is a reality.
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