Euro Crisis : Eurozone Economy Contracts

The eurozone economy is now 0.4pc smaller than it was a year ago, whist the region contracted 0.2 pc in the second quarter, eurozone GDP figures released this morning show.

Weak household consumption across the region (Germany excepted) and slower investment plans are to blame, according to analysts.

In other euro crisis news, there are concerns a potential new European Stability Mechanism (ESM) lawsuit may delay the ruling by the German constitutional court scheduled for September 12 and, consequently, the implementation of the ESM by several weeks or even months.

Meanwhile, data from the Bank of Spain out this morning shows Spanish  banks borrowed a record high of €402bn from the European Central Bank in   July, up from €365bn in June.

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  John Cadogan

• 

  Brokermandaniel

• 

  Trader Tim

• 

  London Academy Of Trading