Too much austerity? Europe confronts impact of its policies as economic recovery fades + MORE Sep 2nd

FRANKFURT – Europe’s economic recovery is in danger. Governments are under pressure to save it, but struggling with political obstacles and disagreement among themselves over what to do.
Instead, the region is pinning its hopes — once again — on the European Central Bank, which is expected to launch new stimulus measures if the economy gets any worse.
Europe’s lack of growth is looming larger and larger, however, and the ECB says it can’t save the economy alone.
For more than five years since the eurozone hit turbulence over too much debt in 2009, governments’ answer has been to raise taxes and restrain spending. And there’s been some progress. Deficits have shrunk, and countries that needed bailout loans are slowly getting their act together.
But second quarter growth was zero, after only four quarters of measly expansion. While unemployment in the United States has fallen to 6.2 per cent from 10 per cent at its peak in Oct. 2009, Europe’s is at 11…

RALEIGH, N.C. – North Carolina business recruiters offered Toyota more than $100 million in incentives for the world’s largest carmaker to move its North American headquarters to Charlotte rather than a Dallas suburb, but still lost out to a Texas offer half that size.
Only about a quarter of the nearly 3,000 jobs paying an average of $105,000 a year were expected to move from Southern California, meaning a golden but missed job-creating opportunity for the region, according to North Carolina recruiting documents and emails released to The Associated Press last week in response to a public records request.
State law requires the release of recruiting documents after a company has announced a decision on its preferred location, which Toyota did four months ago. Since Gov. Pat McCrory took office last year, state agencies often take many months to comply.
North Carolina’s offer had to be significantly larger than Texas to be competitive because the Lone Star State has no corporate or income tax, Commerce Secretary Sharon Decker said in an interview last week…

Back to school season is upon us, and many post-secondary students are already on campus, and spending their hard-won student loans. In addition to Psych 101, the college years also offer a crash course in “grown up” money management – but is generation Y really getting the message? One study finds the majority aren’t sure when they’ll pay back their student debt, while another suggests Boomer parents simply foot the bill.
Get the full story below, along with the week’s top headlines.
Should Adult Children Get an Allowance?
It’s financially tough to be a young adult these days, as the cost of living, real estate and debt levels sky rocket. But does that mean Generation Y needs a handout from their Boomer parents? One expert thinks adult allowance makes good financial sense – but parents should beware derailing their retirement funds. Read on for our take.
Read Gordon’s Blog | Should Adult Children Get an Allowance?
Why Paying Off Student Debt Will Take Longer Than You Expect
A new CIBC study finds students are grossly underestimating the impact lingering student debt will have on their post-grad lives…

The first step toward a bigger savings account is creating a smart budget, financial experts say.

The first step toward a bigger savings account is creating a smart budget, financial experts say.