Eurozone Emerges From Recession

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

The Eurozone showed 0.3% growth from April to June meaning the group is officially out of a recession. It was the first major growth since the third quarter of 2011.

The report of the zone’s growth was expected by most economists after the biggest economy in the zone, Germany, drew 0.7% during the same period.

However, the news isn’t entirely good for all Eurozone nations. Despite Germany and France (up 0.5%) showing stronger results, other countries did not fare as well.

Spain, which had to seek a bailout for its banking system, saw economic output fall 0.1% during the second quarter. Italy and the Netherlands fell 0.2%.

“A number of member states still have unacceptably high unemployment rates,” European Commission Vice-President Olli Rehn told the BBC. “Implimentation of essential, but difficult reforms across the EU is still in its early stages. So there is still a very long way to go.”

German officials say they hope the country’s strong growth could be a “locomotive” for the rest of the EU.

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