Spain continues to slide deeper into recession. Economic output fell by 0.7 percent on the same period in 2011. It's the steepest decline in three years. Spending cuts and tax hikes are putting the brakes on growth.
Angela Merkel and Mariano Rajoy have struck a positive note after meetings in Santiago de Compostela. Merkel and Rajoy walked a stretch of the Way of St. James, as Spain starts its own long road to economic recovery.
Second-quarter GDP growth in Spain has come in at its strongest since 2007, before the country sank into recession. It's the country's fastest growth since 2007.
In his annual state of the economy speech, Greek Prime Minister Antonis Samaras has promised to cut unpopular taxes introduced at the height of the country's debt crisis.
Spain’s difficult austerity measures are beginning to bear fruit, while the French government is being torn asunder by austerity politics. Europe needs more positive examples of reform writes DW's Christoph Hasselbach.
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