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| | The Economic Ruin of Europe |
 | | Also for the past 20 years, Europe has suffered an average unemployment rate more than 50 percent higher than the U.S. During the 1950s, '60s, and '70s, the U.K. had a much lower rate of economic growth than Germany, France and Italy. |
 | | By the time Margaret Thatcher took over in 1979 as prime minister, the U.K. was known as the "sick man of Europe." At that time, Britain had the most socialized economy in Europe and, as would be expected, the worst economic performance. |
 | | The danger for Europe is that the Germans may enter a deflationary spiral, like Japan, and drag the rest of Europe down with them. |
| www.cato.org /pub_display.php?pub_id=2997 (934 words) |
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