My Way News - EU predicts 0.3 pct eurozone contraction in 2012:
My Way News reports: "The European Union estimates that the economy of the 17 countries that use the euro is in recession in the wake of a debt crisis that has prompted savage spending cuts and a jump in unemployment to record highs [...] A recession is commonly defined as two consecutive quarters of negative growth and figures next week are expected to show that the eurozone contracted by a quarterly rate of 0.2 percent for the second quarter running."

My Way News - Greek euro exit no longer unthinkable:
My Way News reports: "There have been two and a half years of bailouts, on top of broken promises by Greece to reform. The result: a fifth year of recession and, this week, political chaos. Voters on Sunday favored parties that either oppose the terms of the country's international bailout or want to renegotiate them. If it cannot get more rescue loans, Greece will go bankrupt and likely have to leave the eurozone, the currency union of 17 countries."

Comment: The EU is either on the verge of splintering or of forging a new consensus. Which will it be? Stay tuned.