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Sala StampaFor Eurozone Economy, It’s Back to the Future

For Eurozone Economy, It’s Back to the Future


The European Union released data this Friday confirming that overall, the economies of the 19 eurozone member states have experienced an increase of 0.6% over the first three months of 2016. An increase such as this is equivalent to an annual rate of 2.2%. This brings the eurozone’s total GDP to about the same as it was in 2008 before the economic crisis began. Although the economies have made progress, they are a long way from being restored completely. For example, the data also showed that the unemployment rate was still over 10%. States such as Cyprus, Greece, Italy, and Ireland continue to struggle with crippling economic conditions, whereas Germany and Netherlands have been able to recovery at a faster rate because of their major export-led markets.


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