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Economic Confidence Slumps in Germany, France

Wall Street Journal - Jun 19, 2012

The euro zone's two largest economies experienced a drop in confidence in June, with German economic expectations suffering their steepest fall in almost 14 years while French business confidence declined slightly.

The data published Tuesday provide further evidence that Greece's national election Sunday provided only brief respite to the currency area's still-precarious situation.

The Center for European Economic Research, or ZEW, said Tuesday that German economic expectations fell victim to continuing uncertainty over the fate of the euro zone.

The current state of affairs in Europe is "not a very good situation for countries supporting Greece [such as Germany]," ZEW economist Michael Schröder told journalists. "It now seems that leaving the euro isn't the choice of the [new] Greek government; they will try to get more payments from European countries."

Read Full Article from Wall Street Journal

- Posted: 2012-06-19 13:29:43


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