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Eurozone economy grows 0.2% in third quarter | |
(40 minutes later) | |
The economy of the 17-nation eurozone grew by 0.2% between July and September, boosted by France and Germany, according to official data. | |
The German economy grew by 0.5% in the quarter, while the French economy expanded by 0.4%. | |
In Greece, the economy shrank by 5.2% in the same period, although that was not as bad as the 7.4% contraction of the second quarter. | |
Economists expect the economies of the bloc to weaken. | |
Market tensions | Market tensions |
On the financial markets, the difference between interest rates on French and German bonds reached a record on Tuesday. | On the financial markets, the difference between interest rates on French and German bonds reached a record on Tuesday. |
The gap between the yields - or implied interest rates - on German and French 10-year bonds widened to 1.726 percentage points. | The gap between the yields - or implied interest rates - on German and French 10-year bonds widened to 1.726 percentage points. |
The yield on French bonds rose to 3.5%, while on German bonds it fell to 1.775%. | The yield on French bonds rose to 3.5%, while on German bonds it fell to 1.775%. |
That implies that France would pay about twice as much as Germany to borrow money if those rates were in force when the countries came to issue new bonds. | That implies that France would pay about twice as much as Germany to borrow money if those rates were in force when the countries came to issue new bonds. |