It seems that they remain affected by that experience. While the direct effects of the crisis on the Australian economy were generally short-lived and relatively minor compared with the experience of many economies, the events of that time led many Australian businesses and households to re-evaluate their appetites for risk.
And lately, growth data from the euro area have been indicating that a silver lining is appearing on the horizon, Macroeconomic rebalancing in the euro area is underway. Importantly, the euro area left recession, with 0.1% growth in the third quarter. In, Italy and Greece contraction slowed down, while Spain joined Portugal and Ireland in leaving the recession behind.