Euro Area Pushed Into Recession as Trade Slows, Spending Drops

Euro Area Pushed Into Recession as Trade Slows, Spending Drops

Simon Dawson/Bloomberg

European governments, fighting the sovereign debt crisis that started in 2009, on Nov. 27 eased the terms on emergency aid for Greece and are counting on a bond buyback as a market-based way of cutting the country’s debt, paving the way for continued aid payouts.