Eurozone Crisis: Shrinking GDP
Eurozone economic & debt crisis: latest data shows Eurozone GDP overall contracted by 0.2 percent, with deep recession in periphery. In Greece, Spain, Portugal and other weak links in the Eurozone chain, a deep economic recession in underway.
Even the stronger economies in the Eurozone, in particular Germany, registered GDP growth that was so anemic, it is virtually at stall speed. This demonstrates that a negative feedback loop is at work in the Eurozone; those nations most afflicted by the Eurozone debt crisis have now damaged the economies at the core of the monetary union. Clearly, a deep economic crisis is underway in the Eurozone, with global implications.