OECD says that Europe emerged from recession in Q2 2013
The OECD, Organization for Economic Co-operation and Development announced findings showing that the European Community emerged out of recession during the second quarter of 2013.
Bond yields due in Ten years have fallen to levels at the start of the economic crisis. Yields in Spain and Greece are at or near crisis lows.
Sovereign Debt Spreads have receded to normal levels.
Credit Default swaps have normalized so that defaults are seeming less likely.
Central Bank liabilities have declined to 2008 levels, below 25% of GDP.
GDP projections suggest annual growth rates returning to 2011 levels of 1.6%.
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