Quote:
Originally Posted by Osem
Yes I reckon there's going to be a lot more bad news than good coming our way from the Eurozone to add to our own problems.  |
The Eurozone has had a pretty decent few months prior to this. Really since the summer the threat of a collapse has dwindled significantly and the scenario that could have seen a collapse, the domino effect, has also abated.
It could still go wrong of course, the Spainish economy would especially be tested if another crisis suddenly flared up from somewhere in Europe. That doesn't appear to be on the table for the moment however. Spain and Italy have been able to finance at cheaper rates since October or so and that trend increased last month (see an earlier post I made). Obviously there are still problems like there are here but don't think it's especially shocking that they saw a contraction or 'bad' in a sense that it changes the situation or narrative in the Eurozone.
We're still in for a tough time for a while but it does seem the worse is over. Unemployment is going down, banks are secure and money is moving, and the Eurozone have stepped back from the brink.