|Sector Sanctions Freeze German and French Economies|
|by Tom McGregor||Thu, Aug 14, 2014, 01:16 AM|
President Barry Obama's Sector Sanctions on Russia appear to have backfired as the German and French economies are headed towards a tailspin.
According to the BBC News, "The eurozone's two largest economies both performed worse than expected in the second quarter of this year. German GDP contracted by 0.2% in the three months to the end of June, figures show, after growing by 0.7% in the first quarter."
The European Union has been struggling to overcome low economic growth rates in the past few years, and Russian President Vladimir Putin has announced counter-Sector Sanctions on the EU.
As reported by the BBC, "Germany's Federal Statistics Office said after its trade balance had a negative effect on economic development. And official figures show the French economy saw no growth in the quarter."
Ironically, the BBC News, a British-government owned and operated media corporation, failed to mention the impact of Sector Sanctions on Russia in the related article.
To read the entire article from the BBC News, link here:
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