Stock markets recover while the economy stagnates

In its leading article the Catholic daily La Croix analyses the discrepancy between the recovery on the stock markets and the still floundering economy: "It is true that the financial sector which caused the global earthquake is picking up again. The banks are posting profits once more and the other indicators … are at least a little less negative, if not altogether positive. The banks are setting aside considerable reserves for the 'bonuses' of some of their employees. Even if the modest rules set up by the G20 in France are observed the easing of the situation on stock markets and at banks are meeting with incomprehension and even annoyance among the general public. The announced [profits] are reaching dizzying heights while the bad news on the employment situation just keeps coming."

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