By one measure, the economic crisis that has long ravaged Europe is finally over.
On Friday, the European Union released data showing that the overall economy of the 19 countries that use the euro advanced by 0.6 percent over the first three months of the year, compared with the previous quarter.
That modest growth brought the eurozone’s gross domestic product for the period — the total value of goods and services produced — to 2.48 trillion euros, or about $2.81 trillion.
That was slightly above the previous peak of €2.47 trillion reached in the early months of 2008, before the crisis emerged and Europe’s core economy descended into a pair of crippling recessions.
“The long-awaited recovery may finally be consolidating,” said Iain Begg, a research fellow at the European Institute of the London School of Economics.
To continue reading this article, click here.