Josephine Moulds – Eurozone Won’t Begin Recovery Until Later 2013, Mario Draghi Says – 1 December 2012

Warning from ECB president comes as unemployment in the currency bloc hits a new high in October

A ‘Youth with no Future’ protest in Madrid. Photograph: Susana Vera/Reuters

The head of the European Central Bank has warned that the eurozone crisis is far from over, as unemployment in the currency bloc hit a new high in October.

The Guardian – Josephine Moulds – Double Dip Recession Confirmed In Eurozone – 15 November 2012

Eurozone GDP fell by 0.1% in third quarter, plunging region into recession that economists fear could drag into next year

The nationwide general strike in central Madrid on Wednesday. Spain continues to drag on the eurozone’s economic growth. Photograph: Juan Medina/Reuters

The Guardian – Josephine Moulds – Eurozone Crisis: ECB Introduces Unlimited Bond-Buying Programme – 6 September 2012

• ‘Almost unanimous’ vote overrides German fear of inflation

• Countries benefitting must enter bailout programmes
• Eurozone growth forecast downgraded

Mario Draghi, the president of the European Central Bank, has pushed through a controversial scheme to save the euro, trampling over German opposition.

At the same time, the ECB said that the economic outlook for the eurozone had deteriorated. It now expects the eurozone economy to shrink by 0.4% in 2012 and grow by 0.5% in 2013, while inflation rises to 2.6%.

The Guardian – Josephine Moulds – Eurozone Crisis : Thinkthank Urges ECB To Resume Bond Rescue – 3 September 2012

(Lucas : quit contraire of others reporting on debt-forgiveness this bond buying issue is not. It is just a buying of debt that is financed with debt money from a broke ECB that still is printing the money presses without having any value backing it. Merkel has begged China to buy bonds and therefore a bit of the debt will be  disappearing from the eye. Even so, it  is just not enough  and debt will still grow and the countries keep pumping around debt and adding debt and inflation to it.  Fantasy and fiction are often mistaken for reality. Reality is : the system is broke and  it has to be shut down and demolished.