The data feeds hope that the Old Continent could possibly avoid a deep recession.
FORBES: Ironically, EU GDP Better Than Expected Despite 0.3% Contraction
Still, after so many downgrades across the Old Continent, markets appear relatively inoculated from their negative effects.
The number complemented negative manufacturing data from Europe and Asia that led to negative sentiment across the Old Continent.
FORBES: Stocks Zigzag On Strong, Yet Slowing, Manufacturing Data
In the Old Continent, the total market fell 8.1%, particularly in Southern Europe.
FORBES: Selling Philip Morris? Light Up On A Juicy Dividend And Big Share Buyback Program
After Germany passed the all-important ratification of the EFSF on Thursday, equities in the Old Continent slid into negative territory.
EU's borders, and also imported much-needed economic dynamism into the old continent.
Some may still hold out the hope that wise men in the old continent will present us with a road map to the future.
Although Germany saw production volumes in manufacturing rise on a rebound in export demand the situation elsewhere in the old continent is still dire.
While major equity indices traded in the red over in the Old Continent, a Troika mission to Greece released the results of a preliminary assessment.
As the Depression took hold, many foreign workers re-emigrated: some 500, 000 left in the 1930s, with many southern Europeans moving back permanently to the old continent.
Both market and political considerations will keep the heat high over in the Old Continent, as Germany, Greece, and their peers try to keep the Union alive.
FORBES: Greek Default Fears Spoil The Fun And Send Global Equities Plummeting
As U.S. money market funds become more risk averse in the face of renewed sovereign debt woes in Europe, dollar liquidity has begun to dry up in the Old Continent.
Yet in the current recession, voters are turning to right-wing and xenophobic parties across the Old Continent, away from the parties that historically contributed much more to the construction of the European welfare state.
Yields on sovereign debt across the Old Continent have picked up on this, with both Italian and Spanish 10-year bond rates rising consistently over the last month to 5.026% and 5.889% respectively on Monday.
FORBES: Greece To Default By Friday Unless Brussels Sends The Bailout Cash
As if to pre-empt criticism that deficit reductions and cuts in the social safety net would send Europe into a deflationary spiral, the German leader tried to turn the focus away from the Old Continent.
The Old Continent has already entered a recession, of mild proportions in France and Germany, and much more drastic in the periphery. (Read As Europe And The US March Toward Recession, Markets Are Waiting For Godot).
FORBES: Goldman's Hatzius: U.S. To Avoid Recession As Bernanke Unveils QE3, Europe Doomed
Pope BENEDICT XVI: (Through Translator) We are hoping for this because such an encounter of people from all continents should also give the old continent, the host, a new impulse and help us so that we don't only see the sick, the tired and the missed opportunities in the European history.
The European sovereign debt crisis has already extended beyond the Old Continent and claimed victims in the U.S. MF Global, headed former Goldman Sachs chief Jon Corzine, fell because of its exposure to peripheral debt, while Jefferies came after pressure for its exposure (which it cut in half over the weekend).
FORBES: Berlusconi, Having Won 53 Confidence Votes, Will Probably Be Forced To Resign
Yet after Morgan died in Europe in 1913, this target of progressives' attack in his own country was mourned across the "old" continent and his casket was bid adieu at Le Havre with full military honors.
While old regimes tottered on the continent, this radical trio spurned what they deemed tired formulas upheld by the Royal Academy.
We need to shrug off the old stereotypes and celebrate the continent's diversity and complexity, which is what we are attempting with this campaign.
Because if the euro goes, the single market may go with it, and likely the half-century-old dream of a unified and uniformly prosperous continent.
The eurozone crisis has provided plenty of fodder for eurosceptic media and politicians across the continent, with many press reports feeding off old tensions and rivalries.
In one day, I got a free curling lesson from a moustached Quebecois man, saw a dogsled race on snowy 400-year-old lanes, ate a juicy caribou steak in one of the continent's oldest restaurants, watched boites a chansons (local folk music) shows with hipster locals and yelled "allez allez" at a wild minor-league hockey game.
The continent is lagging in the all-important services sector, though Germany has managed to shake its "Old Europe" tag a bit to become a bigger exporter in the past year.
应用推荐