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Thursday, May 16, 2013

Eurozone's struggling economies mired in recession

The eurozone is stuck in recession _ its longest since the euro was founded in 1999. The latest figures from the European Union's statistics office show that the economy of the 17 EU countries that use the euro shrank for a sixth straight quarter, slumping by 0.2 percent in the January-March period from the previous three months. Initially it was just the countries at the forefront of the eurozone's debt crisis, such as Greece and Portugal, that were contracting. But the malaise is now spreading to the so-called core countries. Wednesday's figures showed Germany, Europe's largest economy, grew...

READ THE ORIGINAL POST AT article.wn.com