None of these risks implies that the monetary union will inevitably be a victim of this severe economic downturn. But the downturn will be a more severe test for the euro than any that it faced during its first ten years.

We already have a full blown global recession. Unless governments get ahead of the problem, we risk a severe worldwide downturn unlike anything we have seen since the 1930 s.

And there is a slight downturn.

BRUSSELS The euro is celebrating its tenth anniversary against the background of the most difficult economic climate since its birth. The financial storm that swept in from the United States, and the onset of a severe economic downturn, confronts Europe with unprecedented challenges.

Now you see this slight downturn at very advanced ages.

The Chinese economy s dynamism is highly dependent on exports, which would suffer greatly from a collapse of emerging markets. In fact, China, with its need for high growth to pay for social peace, may be the country most at risk from a severe global downturn.

Still, it must be noted that negative output growth for more than two years is a relatively rare event, even in the aftermath of severe banking crises. Historical statistical relationships are perhaps cold comfort in a downturn that now seems so insidiously different from previous catastrophes.

As the United States is restoring full employment, the economic downturn is inevitable.

Second, the factors slowing US growth are chronic. These include slow but persistent private and public sector deleveraging rising oil prices weak job creation another downturn in the housing market severe fiscal problems at the state and local level and an unsustainable deficit and debt burden at the federal level.

Fortunately, America has, at last, a president with some understanding of the nature and severity of the problem, and who has committed himself to a strong stimulus program. This, together with concerted action by governments elsewhere, will mean that the downturn will be less severe than it otherwise would be.

The truth that politicians (David Cameron s UK government excluded, at least for now) are reluctant to admit is that Western Europe s current morass is distinct from the global US made downturn. Old Europe has entered into a severe and intractable crisis of the welfare state as ordinary Europeans have come to know it.

Severe Sentences

This is some severe frostbite on the feet, severe frostbite on the nose.

The company said additional cuts would give the company the room needed to move through the market downturn.

As we speak, a severe hurricane is once again pounding Grenada, causing severe damage.

That very human lesson, more than 20 years ago, served me well during the last economic downturn we had.

He underwent severe criticism.

It wouldn't be causing severe disease.

That country has a severe climate.

He was severe with his children.

Indeed your Lord s striking is severe.

Indeed your Lord s striking is severe.

In the last three years, I've traveled to 45 different countries, working with schools and companies in the midst of an economic downturn.

During 2002 2003, forms of state support were affected by a series of budget cutbacks leading to a downturn in the nation's economy.

However, the downturn in the sector is mainly attributable to a fall in the number of Japanese tourists, the mainstay of the industry.

The famine was severe in the land.

He explained this meant severe internal bleeding.

Japan is confronted with severe economic problems.

The onslaught of your Lord is severe.

The onslaught of your Lord is severe.

The vengeance of God is terribly severe.

The vengeance of God is terribly severe.

The famine was severe in the land.

Expressing its concern at the severe shortage of drinkable water and the severe food crisis, as reflected in the report of the Secretary General,

The eight new CEE member countries of the European Union (EU) the group mostly affected by the downturn in 2003 experienced the most vigorous increase.

In that case, the consequences are rather severe.

In severe weather, it's best to stay indoors.

The grip of your Lord is severe indeed!

The grip of your Lord is severe indeed!

Verily the grip of thine Lord is severe.

Verily the grip of thine Lord is severe.

Indeed, the seizing of your Lord is severe.

Indeed, the seizing of your Lord is severe.

And how severe were My punishment and warning.

Indeed, the vengeance of your Lord is severe.