Private companies in the eurozone haven't managed to fill the vacuum created by drastically reduced government spending. In the United States, by contrast, governments have imposed far milder spending cuts and tax increases. Unemployment, at 7.5 percent, is far lower. And consumers and private companies have kept spending, steadily if modestly.
As a whole, the eurozone is stuck in its longest recession since the euro was launched in 1999. The six quarters of economic decline represent a longer recession than the one that followed the 2008 financial crisis, though it's not as deep.
The U.S. economy, the world's largest, has demonstrated far more resilience. It's grown steadily since the end of its recession in June 2009. And the U.S. job market has steadily improved: The unemployment rate has fallen sharply from a peak of 10 percent.