Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
The recession across the eurozone increased significantly during the fourth quarter of 2012 according to official figures released today.
The 17 nations that make up the euro showed an economic shrinkage of .6% in the final three months of the year, the sharpest decrease since 2009 and the first time ever the eurozone has shown contraction over every quarter in a calendar year.
The report came on the heels of news that the economies of Italy, France and Germany all contracted more than analyst predictions.
The euro fell to a three week low against the U.S. dollar in the wake of the report.
“These are horrible numbers, it’s a widespread contraction, which does not match this positive picture of stabilization and positive contagion,” Carsten Brzeski of ING told the BBC.
Germany, the eurozone’s largest economy, fell .6% with a steep decline in exports given the blame.
Government officials across the eurozone expressed pessimism regarding 2013 as a result of the fourth quarter downturn. French Finance Minister Pierre Moscovici said the government might have to revise their claim that their economy will grow .8% in 2013.
