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Recession
(redirected from Real economic crisis)

    Also found in: Medical, Financial, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.

RECESSION. A re-grant: the act of returning the title of a country to a government which formerly held it, by one which has it at the time; as the recession of Louisiana, which took place by the treaty between France and Spain, of October 1, 1800. See 2 White's Coll. 516.
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No party dealt seriously with the real economic crisis brought about by excessive government spending and by the high interest rates that resulted from locking the pound into the European Exchange Rate Mechanism; or with the problem in general of Britain's relationship to an increasingly federalist, protectionist Europe; or with defense in an obviously unstable world.
Winning in spite of themselves by Lejeune, Anthony / National Review
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