Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
THE SIZE of the Eurozone economy fell by 0.6 per cent in the fourth quarter of 2012 – its steepest fall in nearly four years.
Figures produced by Eurostat showed that the combined economies of the 17 countries that use the euro produced 0.9 per cent less in the fourth quarter of 2012 than they had in the equivalent period of 2011.
When all 27 EU member states are taken into account, growth fell by 0.5 per cent from Q3 to Q4, and by 0.6 per cent in a year.
The 0.6 per cent fall is the worst since the immediate onset of the financial crash in 2008; a single quarter has not seen a decline so steep since the first quarter of 2009 when the Eurozone economy shrank by a whopping 2.8 per cent.
In that case, the decline levelled off to 0.2 per cent in the second quarter and back into growth three months later.
Portugal had the steepest decline of any country; its economy shrank by 1.8 per cent in the fourth quarter, while Cyprus saw a drop of 1.0 per cent and Italy – where Mario Monti completed his final quarter as stand-in prime minister – shrank by 0.9 per cent, equalling the fall in Hungary.
Latvia had the strongest growth, at 1.3 per cent, ahead of nearby Lithuania on 1.0 per cent and Estonia at 0.9 per cent.
The figures do not include Ireland, which is not due to confirm fourth quarter figures until the end of March, but the figures are still bad news for Ireland – with general acceptance that trouble for economies in mainland Europe will impede the chances of an export-led Irish recovery.
On an annualised basis, Latvia had the highest annual growth at 5.7 per cent; Estonia is the highest of the euro users with 3.4 per cent.
At the other end, Greece’s economy shrank by an estimated 6 per cent in 2012, while Portugal fell by 3.8 per cent and Cyprus by 3 per cent.
The UK economy shrank by 0.3 per cent in the fourth quarter, and grew by 0 per cent in 2012 as a whole.
To embed this post, copy the code below on your site
RIP Christy.
A True Dub who never forgot his roots…. Cheers for the tunes Christy….rest well.
@Abbe Julio I have to disagree with you on the hagiography comment, people such as myself genuinely loved the man for the person and musician he was, the life he lived and his honesty about it. I admired him, laughed with him when he told stories, was upset for him when I discovered he was ill and was so truly upset to hear he passed. He was a flawed man but as I’ve said so many times now, we’re all flawed..only most of us don’t want to admit it and those that do are usually berated for it.
Then there are those of us who relate.
@Laura H: Beautifully put, I’m in total agreement with you on everything you’ve said. We’re all human, nobody is worthier/better than anyone else no matter who they are. People admired Christy and @Abbe Julio’s use of the word ‘hagiography’ is totally disingenuous. RIP Christy.
Legend RIP
Thanks lad
Aslan played in the students bar in UCD in the early 2000′s. Great band, great man. Rest in Peace.
Thanks for the beautiful music christy rest in peace .
Well done Finglas. Place gets a bad rap from time to time but 99% of the people are the finest you’d ever meet
I remember seeing Aslan back in the early 90′s in the Towers pub in Ballymun, the cover charge was 2 pound christy did most of the gig sitting in an armchair, unbelievable gig even with the issues christy had back then. Seen them so many times since and never missed a newyears eve gig in Vicor street ,,, Absolute LEGEND R.I.P
Respect!
Rest in peace Christy, you will be missed down here.
RIP
He was a flawed man as someone here has said, but he was a flawed man with talent. RIP christy.
Rest in peace Christy . You fought a long battle . Followed Aslan all my life . From seeing them as a teenager play in the the old Janelle shopping centre ( now Clearwater) when they got back together to the pubs and clubs like the Fingal, Baggot Inn, Vicar St. Olympia and the Iveagh Gardens .
Your music will live on . Condolences to all the family and band members .
Wednesday nights in the towers Ballymun ….legendary.
R.I.P Christy.
God always picks the best ones first .. no matter happens in life Christy showed us nothing can stop u from doing wat u love …
R.I.P.
Very bad taste and disrespectful to keep referring to him as Dignam
Gone but never forgeten
have your say