Today was a day full of relevant information about the Euro zone. More accurate, the quarterly gross domestic product situation for the engines of the European economy. If the German GDP missed the expectations (0.3%) showing that the real economy only produced 0.1%, France came up with a negative surprise of -0.2%. The same situation for Italy, which since December 2011 is constantly reporting negative figures for the GDP, including the last report of -0.5%.
The greatest impact is given by the Germany’s situation which makes investors think that Euro zone is still dealing with the recession, better said, it barely passed its half. Important to highlight for Europe is that recently the rating agency Standard and Poor’s warned that the union banking is absolutely necessary in order to keep the trust in bank deposits in Europe. It looks like things are being rushed. If Germany’s resistance will be defeated there are strong reasons to see this union happening and important steps will be consider by mid of 2014.