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Euro zone economy praying at the German altar

Tuesday, May 15, 2012 - 01:50

May 15 - Germany's surprise economic boom in Q1 prevents a euro zone recession. Just. But how long can this situation hold?

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Of all of economic numbers jargon and acronyms -- -- one is more important and all of them together GDP. Everything revolves around the total value of all goods and services in an economy which is fine and good times. But not so when times are bad. And right now -- Europe. Tightens up five. Figures released today show that the seventeen nation eurozone avoided a technical recession by the skin of his teeth. Something of a surprise perhaps given the crisis plaguing the regents club made countries. The saving grace as -- is Germany. It's economy continues to defy gravity expanding five times faster than expected in the first quarter. Germany is the Euro zone's economic -- hosts almost single handedly keeping the block afloat. Just. It is also the region's financial -- must've. All those bailouts over the last couple of years -- most of may still come will -- pot be funded by federal and for the club med countries in the session the luck of growth means more than just concept for the people. It means those receiving EU and IMF -- to find it even more difficult to meet the an end of the bargain. -- deficit to GDP targets and increasingly -- of -- it which prompts even harsher austerity. And so the downward spiral was armed. European leaders recognize the need for growth belatedly perhaps. But it remained firmly committed to the doctrine of fiscal discipline and the two seem irreconcilable. The private sector has hunkering down and public sexist attitude -- who flow. Outside of Germany at least sustainable growth remains as elusive as -- out. This is -- to keep up for Reuters.

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Euro zone economy praying at the German altar

Tuesday, May 15, 2012 - 01:50