Slowdown in European Economy

The pace of economic growth has slowed in"the euro zone" of Europe, despite the fact the levels of production have not returned to what they were before the current recession. The region is only at half of the production level that it was at before the recession. Experts feel that European growth peaked before reaching old levels, and see that the recovery will be slower from here on out. It is not predicted that the region will fall back into recession, but Jean-Claude Trichet, president of the European Central Bank, commented that the growth of Europe and other advanced countries has been modest in comparison to less developed countries. This makes sense because even in a recession, it is difficult for an industrial advanced country to grow economically as much as a country whose economy has not been developed and is developing.