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February 15th, 2012 
FAKE NEWS for the Zionist agenda The European Union’s statistics office, Eurostat, announced on Wednesday that the Economic output of the eurozone bloc fell 0.3 percent in the fourth quarter from the third in 2011.
New figures show the Dutch, Italian, and the Czech economies have all officially slipped into recession, with Greek economy in deep recession for a fifth year.
During the final months of last year, financial turmoil in Europe intensified due to fears that the debt crisis was spreading from smaller economies such as Greece to larger ones like Spain and Italy.
The eurozone debt crisis also brought the German economy, Europe’s biggest, to a standstill at the end of 2011.
Recession is defined as two consecutive quarters of economic contraction. The wider, 27-nation EU economy also shrunk 0.3 percent in the October to December period.
Currently there are more than 23 million unemployed people in European Union and there are fears that harsh austerity measures will worsen living conditions.
The debt crisis has forced EU governments to adopt harsh austerity measures and tough economic reforms, triggering incidents of social unrest and massive protests in many European countries.
There are fears that more delays in resolving the eurozone debt crisis, which began in Greece in late 2009 and infected Italy, Spain and France last year, could push not only Europe but also much of the rest of the developed world back into recession.
PG/JR/HGH
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