Europe's Recovery Has Vanished

Growth wilted across large swathes of the eurozone in the first quarter, dashing hopes of durable recovery and prompting demands for shock and awe action from the European Central Bank.

Finland fell into recession, while output contracted by 1.4pc in Holland, 0.7pc in Portugal and 0.1pc in Italy. â??The recovery has vanished,â? said Italian think tank Nomisma.

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