WESTERN EUROPE: Threat of Recession

For months European businessmen congratulated themselves on how sturdily their economies were weathering the sharpest U.S. recession since World War II. Now there are signs that Europeans themselves have something to be concerned about. By last week talk of a downturn in European business, hushed when Europe's boom refused to bust even during the U.S.'s greyest months, broke out in loud tones. In Rome, officials of the U.N.'s Food and Agriculture Organization warned that the price bottom might drop out of Europe's agricultural market this fall, and in London Britain's cautious Chancellor of the Exchequer, Derick Heathcoat Amory,...