European countries struggling from slow ? or shrinking ? economies are also struggling to narrow their budget deficits. As a result, EU leaders are relaxing their demands for austerity budgets. They increasingly believe that focusing on ways to revive economic growth will help them achieve deficit goals more quickly.
Here is a look at economies of the 17 European Union countries that use the euro, their government deficits and unemployment rates.
| Economic indicators for the 17 eurozone countries | ||||
| Growth rate in GDP Q4 2012 vs Q1 2013 ( | Government Deficit2009 (%ge of GDP) | Government Deficit2011 (%ge of GDP) | Unemployment Rate(%) | |
| Eurozone (17 Countries) | -0.6 | 11.9 | ||
| Austria | -0.2 | 4.1 | 2.5 | 4.9 |
| Belgium | -0.1 | 5.5 | 3.7 | 7.4 |
| Cyprus | -1.0 | 6.1 | 6.3 | 14.7 |
| Estonia | 0.9 | 2.0 | 1.1 - Surplus | 9.9* |
| Finland | -0.5 | 2.5 | -0.6 | 7.9 |
| France | -0.3 | 7.5 | 5.2 | 10.6 |
| Germany | -0.6 | 3.1 | 0.8 | 5.3 |
| Greece | n/a | 15.6 | 9.4 | 26.4* |
| Ireland | n/a | 13.9 | 13.4 | 14.7 |
| Italy | -0.9 | 5.4 | 3.9 | 11.7 |
| Luxembourg | n/a | 0.8 | 0.3 | 5.3 |
| Malta | n/a | 3.9 | 2.7 | 7.0 |
| Netherlands | -0.2 | 5.6 | 4.5 | 6.0 |
| Portugal | -1.8 | 10.2 | 4.4 | 17.6 |
| Slovenia | -1.0 | 6.0 | 6.4 | 14.9 |
| Slovakia | 0.2 | 8.0 | 4.9 | 10.2 |
| Spain | -0.8 | 11.2 | 9.4 | 26.2 |
| * Dec '12 | ||||
| Source: Eurostat |
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