Late-2000s Recession In Europe
The European recession is part of the Great Recession, which began in the United States. The crisis spread to Europe rapidly and affected much of the region with several countries already in recession as of February 2009, and most others suffering marked economic setbacks. The global recession was first seen in Europe, as Denmark was the first country to fall in recession.
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“New York has her wilderness within her own borders; and though the sailors of Europe are familiar with the soundings of her Hudson, and Fulton long since invented the steamboat on its waters, an Indian is still necessary to guide her scientific men to its headwaters in the Adirondack country.”
—Henry David Thoreau (1817–1862)