STOCK MARKET WATCH - Wednesday, 11 February 2015

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18. GREEK UNCERTAINTY OBSCURING UNDERLYING EUROPEAN RECOVERY

http://hosted.ap.org/dynamic/stories/E/EU_EUROPE_RECOVERING_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-02-11-04-54-12

EVIDENCE

For years, the eurozone has been in intensive care, sliding into two recessions as it struggled with a debt crisis that raised questions over the survival of the euro. Since ECB President Mario Draghi said in July 2012 that the bank would do "whatever it takes" to save the euro, tensions in financial markets have eased.

Despite that, the eurozone, which emerged from its last recession in the spring of 2013, has faltered, with even Germany slowing down. But recently, there's been evidence of a turnaround.

- Retail sales across the eurozone have risen for three straight months, meaning the sector will contribute to growth in the last quarter of 2014.

- Though high at 11.4 percent, unemployment has edged down over the past year and surveys are pointing to a pick-up in hiring. That's been particularly noticeable in Spain, which along with Greece witnessed a huge increase in joblessness, particularly among the young.