Financial alarm bells have been ringing across the eurozone. Economic growth ground to a halt in the second quarter according to statistics agency Eurostat.<br /><br />The figures showed zero percent growth compared with the first quarter.<br /><br />Germany the bloc’s economic powerhouse performed worse than expected. It’s economy contracted by 0.2 percent. Foreign trade and investment were weak spots.<br /><br />“Thank God we have seen a superb economic situation over the past few months and years. But it is obvious that the current situation will make things more difficult.,” explained Fidel Helmer a capital markets expert with Hauck & Aufhaeuser private bank.<br /><br />France – the regions second biggest economy saw no growth in the quarter.<br /><br />French finance minister Michel Sapin said the country was unlikely to meet its deficit target for this year.<br /><br />Italy the bloc’s third biggest economy slid back into recession for the third time since 2008 shrinking by 0.2 percent.
