recession in 1992{93, and
remained at this level until the late 1990s. (See also Figure 3 below.)
2. The already precarious … caused
by the recession in the early 1990s.
3. To ensure legitimacy among the electorate, the commission saw a need for a … a more contractionary policy until the end of 2001. The recession that started
in 2001 was more long-lived in the Euro …