EU FINANCIAL NIGHTMARE: Italy and France growth at ZERO as Britain’s economy booms

Friday, August 26, 2016
By Paul Martin

ECONOMIC growth in Italy and France completely stalled during the second quarter, as the eurozone financial woes escalated.

Fri, Aug 26, 2016

Germany also slowed to just 0.4 per cent, from 0.7 per cent in the first three months of the year, according to the OECD.

By contrast booming Britain was confirmed as the fast growing G7 country between April and July, according to the Paris-based organisation.

The UK’s 0.6 per cent growth was more than double the 0.3 per cent measured in the US.

Britain also had the highest annual growth 2.2 per cent recorded the highest annual growth rate.

Overall, growth in the eurozone dropped to 0.3 per cent in the second quarter, from the three months before.

The currency bloc continues to be weighed down by unemployment and high debt levels.

In recents weeks Italy’s economy has become a particular threat to stability.

Its fragile banking system, which holds around £270billion of bad loans, has come close to collapse this year.

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