Eurozone Records Longest Ever Recorded Recession

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The Eurozone’s economy has hit a record high after new figures showed it contracted for the sixth straight quarter.

Falling output from France to Finland meant that the 17-nation economy shrunk 0.2 percent in the January to March period, its longest recession since records began in 1995, the EU’s statistics office Eurostat said on Wednesday.

INSEE (National Institute of Statistics and Economic Studies) statistics agency also issued figures on Wednesday which showed that Germany, which generates almost a third of the eurozone’s economic output, unexpectedly recorded only 0.1 percent growth, barely skirting the recession that France succumbed to.

Crisis In Europe: Italy to leave Eurozone?

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Beppe Grillo, the leader of the “Five Star Movement” which won 25% of the votes cast in the last parliamentary elections was interviewed by the German financial newspaper Handelsblatt. The former comic turned politician told the German journalists that Italy is in fact out of the Eurozone and called for a popular referendum for returning to the Italian lira.