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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Tuesday, August 13, 2013

Eurozone turning a corner as recession set to end

The eurozone's recession was a byproduct of the debt crisis that engulfed the currency union in 2010.

The crisis forced debt-laden governments to impose painful cuts, spooked investors and raised doubts about the viability of the eurozone.

Shrunken government spending and higher taxes devastated living standards in much of the eurozone, slowed economies and drove the bloc's unemployment rate to a record 12.1 percent.

Youth unemployment, in addition to hindering economic growth, is thought to contribute to crime and political extremism.

"While welcome news, much of the return to growth is likely to be driven from Germany, which is likely to be cold comfort to countries like Spain, Italy and Greece buckling under crippling levels of debt and unemployment," said Michael Hewson, senior market analyst at CMC Markets.

READ THE ORIGINAL POST AT www.sfgate.com