• From The BBC:

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    Germany faces ‘bumpy’ recovery
    Germany’s economy has stopped its “free fall” but any recovery will be “muted” and take a long time, the head of the country’s central bank has said.But Bundesbank chief Axel Weber told the BBC that the eventual phasing out of stimulus measures would see unemployment rise and consumption fall. “It does not endanger the recovery but it makes it more protracted,” he said. The car scrappage scheme and workers being put on fewer hours have helped keep German jobless levels steady. Along with France, Germany emerged from recession after its GDP grew by 0.3% between April and June. “Recovery will be protracted and relatively muted but relatively positive,” Mr Weber said. “All we are talking about is recovery from a low level.” Bank bonusesAt the G20 meeting in Pittsburgh this week, world leaders will discuss when and how government stimulus packages should be withdrawn. Mr Weber said that the Europ…

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    Posted by Jon @ 6:35 am

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