Eurozone GDP Continues To Contract Impacting Global Economy

The Eurozone continues to see its economy contract; confirmed this past week by the most recent GDP numbers for the Eurozone as a whole.

This number will only get worse as Germany and France get pulled into the abyss of the sovereign debt crisis. Greek unemployment has risen from 22.6% to 23.1% touching a new record high. Spanish unemployment is just as bad.

The slowdown in Europe continues to infect the entire global economy and trade markets, which has hurt one of the EU's largest trading partners, the UK, significantly.

As the UK continues to slow down their central bank continues to pump in round after round of QE programs to try and stimulate growth.

A voice from the UK, Nigel Farage, discusses the disaster that is Europe and what we can look forward to moving forward.

For another excellent audio interview with Nigel released last weekend click here.

h/t Bloomberg, FT, Sober Look