Wow, this article looks like it's pushing some agenda hard. They took one quarter that was pretty much the same for NA and Asia and much better for Europe as the comparable quarter in 2014 and use it to report "fundraising drops"?
Looks to me like someone is trying to actually bring about fundraising drops by using spurious data.
"Q4 2015 pretty much the same as Q4 2014, the sky is falling!"
"Q4 2015 pretty much the same as Q4 2014, the sky is falling!"