Euro Area And EU27 GDP Down .3% In Q4--Eurostat

Austerity measure may not be enough to help the deficits of most EU nations of new Eurostat data is an indication. GDP contracted by .3% in both the Euro Area and EU27. There was virtually no stimulus for any of the region’s economies at the end of last year, and that is beginning to show. Unemployment in almost every nation within the regions has risen recently, and in Spain and Greece, the figure is above 20%. New data show the French economy grew only .2% in the last quarter of 2011, while Germany’s was down .2%. That leaves every nation in Europe struggling to some extent. And, with those struggles, the appetite to put money up to save Greece may disappear.