The euro fell to a three-week low against the dollar, just weeks after the 17-nation eurozone reported a deeper drop into recession for the final three months of 2012.
It’s a grim picture for the debt-ridden eurozone, Reuters reports.
Germany, France and Italy all experienced surprisingly big economic contractions at the tail end of 2012, BBC reports. Germany, in fact, the largest economy in the eurozone, saw its output fall 0.6 percent — the farthest in months, BBC reported.
“Comparatively weak foreign trade was the decisive factor for the decline in the economic performance at the end of the year,” one official with Germany’s statistics office said, in the BBC report. “In the final quarter of 2012, exports of goods declined significantly more than imports of goods.”
© Copyright 2013 The Washington Times, LLC. Click here for reprint permission.
Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at email@example.com.
By Jay Sekulow
The left's outrage over the IRS turns to a plea to 'move on'
Independent voices from the TWT Communities
Politics and pop culture from the perspective of an independent hip-hop conservative
Positive propaganda for a nation in peril.
Al Maurer provides a common sense, conservatarian, Constitutional conservative perspective from the battleground state of Colorado
Manhattan-based free-market urban bloggers bringing original political content with fresh, young voices
World's Ugliest Dog Contest
Spelling Bee finale
Marines train Afghan soldiers
Rolling Thunder 2013
Benghazi: The anatomy of a scandal