The euro zone just avoided recession in early 2012 but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.
Euro zone unemployment has hit a record high, and job losses are likely to keep climbing as the bloc's devastating debt crisis eats away at businesses' ability to hire workers while indebted governments continue to cut staff.
Joblessness in the euro zone rose to a new record high in May, pushed up by lay-offs in France, Spain and even stable Austria, as the 2-1/2 year debt crisis continued to eat away at the currency bloc's fragile economy.
Over 23 million are unemployed in the 27 countries of the euro zone, the statistical office of the European Union Eurostat informed today.
The European Union's Statistics office Eurostat released today seasonally unadjusted flash estimates for third quarter 2011 of Europe’s gross domestic product.
Euro zone unemployment has risen to its highest level since before the euro was introduced, data showed today, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe's floundering economy.