Why America is recovering, but Europe is not - Part II

It is the differences in the way the United States and Europe tackled the global financial crisis that explain why the US economy is recovering, whereas the eurozone is in a lost decade.

Why US crisis policies worked

\nIn the United States, the global financial crisis was unleashed by real estate markets and the financial sector, which caused a dramatic contraction and massive mass unemployment.

But even as the Obama administration and the Congress initiated deleveraging ...