The Eurozone has been testing several things to get itself out of the mess that it is in. It has invoked austerity measures. It is printing money like there is no tomorrow. But nothing seems to be helping. As per the Financial Times, the recession has just been prolonged. The data states that the 17 bloc nation has registered yet another period of recession. This makes it the longest period of recession since the Euro currency came into existence. Unemployment soared to 12.1%. France is back into recession. Italy and Spain are not doing any better. Even Germany has shown very little improvement.

The Eurozone needs to take harsh measures if it wants to come out of this mess. It has made terrible mistakes in the past and appears to be paying the price now. Unfortunately all it is doing to deal with the crisis is giving temporary pain relief pills to the economy. All these pills do is to postpone the disaster to another date.