The BBC have this cheery story on their website.
Europe leaders warn of difficult 2012
European leaders have warned of a difficult year ahead, as many economists predict recession in 2012.
Yeah! Well Happy bloody New Year to you as well!
Of course, as such a crisis will allow those very same European leaders to monopolize power within the EU, you might suspect that any recesssion would be a good thing for them, even if it’s a bad time for the rest of us.