Shock figures which showed the German economy had actually contracted in the second quarter by 0.2 percent, confirmed to some economists that the heart of the problem lies within the eurozone and not just France.
“We can’t call France the ‘sick child’ of Europe,” Eric Heyer, from the French Economic Observatory says “The whole of the eurozone is extremely ill”.
“This is not just a French problem. We need to remind ourselves that in 2012/13 the Eurozone was the only economic region in the whole world that was in recession.
“Italy is in recession and Germany has contracted by 0.2percent. With France, these are the three biggest economies in the Eurozone.”
Spain has huge problems as we all know.
Figures released later on Thursday confirmed that as a whole the eurozone's economy also showed no growth in the second quarter of 2014. (from the local)
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