European Economy Still Struggles As Exports Fall For Second Consecutive Month And Infighting About Bank Unity Is Ongoing

Monday, December 17, 2012 08:12
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European Economy Still Struggles As Exports Fall For Second Consecutive Month And Infighting About Bank Unity Is Ongoing

Tags: European crisis | European zone | world economy

Exports in the European region fell during October for a second consecutive month. The area is experiencing its second recession in four years. Its economy contracted .1% for the third quarter following a .2% contraction in the second quarter.
 
Some analysts think that exports will rebound in 2013 and the European economy will muster momentum.

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The equities markets have turned in better performance since European Central Bank (ECB) president Mario Draghi announced he would do whatever it takes to save the euro.
 
Europe is also making significant progress toward its goal of creating a unified bank oversight program led by the ECB and it recently released more aid for Greece to keep the country afloat.
 
Meanwhile, finance ministers in Germany and France are in disagreement over the particulars of the oversight program, making trading in the euro range bound.
 
The possibility that the euro will collapse is still real, although much more remote.
 
The debate over the banking union will carry over into the New Year but investor confidence has grown with each step in the Eurozone’s progress toward addressing  long-term fiscal issues.

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