- uploaded: Jul 26, 2012
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UK economic output has plummeted in the second quarter: the Diamond Jubilee and exceptionally wet weather cited as reasons for lack of growth. As a matter of fact its UK's longest double-dip recession on record. Furthermore, economic news out of Europe remains grim: From Spain's banking crisis, to manipulated interest rates, known as Libor, to the persistent eurozone debt crisis, not to mention Greece being ever closer to leaving the eurozone. Even Germany, Europe's economic powerhouse, is not immune. This edition of News Analysis takes a look at how deeply in trouble Europe is.