The media and Europhiles are hugely excited at the headlines today that proclaim that the eurozone is out of recession.
As per the BBC, the eurozone has emerged from recession after a record 18 months of economic contraction.
GDP grew by 0.3% in the second quarter of 2013, slightly ahead of forecasts. Germany and France dragged the eurozone out of the recession with growth of 0.7% and 0.5% respectively. However, Spain experienced contraction of 0.1% on the quarter, and Italy and the Netherlands both saw output drop by 0.2%.
The eurozone cannot survive in its present form where the rich Northern countries prosper whilst the poor Southern ones collapse, just ask the good people of Greece (with close to 65% youth unemployment) if they feel that they are now out of the recession.
Blog Archive
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2013
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August
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- Greece Wants To Renegotiate Bailout Terms
- Banks Embroiled In Another Mis-selling Scandal
- Greece Needs Another Aid Programme
- Banks Play The Old Switcheroo
- Eurozone Out Of Recession?
- Pre Election House Price Bubble On Its Way
- Greece Imploding
- Greek Youth Unemployment Close to 65%
- UK Economy Heads Towards Escape Velocity
- UK Construction Jumps
- Lloyds Back In Profit
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August
(11)
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