Eurozone Economy Grows, but Total Output Still Lags Behind 2008

February 12, 2016 10:49 AM

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Eurozone Economy Grows, but Total Output Still Lags Behind 2008

That was the underlying message of the economic data for the eurozone published on Friday. The 19-country eurozone, the core of Europe’s economy, grew at an annual rate of 1.1 percent in the last quarter of 2015. But total economic output for the year remained lower than when the global economic crisis began, in 2008.

Since then, much of the rest of the world, including the United States, has bounced back, however fitfully. But the eurozone as a bloc has been weighed down by huge numbers of problem loans, a shortage of credit and a reluctance of governments to make politically unpopular economic overhauls. More r...

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