GDP for the opening quarter of 2016 showed the eurozone economy expanded solidly — up both from the previous quarter and on an annual basis.

The outcome of last Thursday’s meeting of the European Central Bank (ECB) Governing Council was in line with market expectations, with no changes to monetary policy. Thus, purchases of securities under its quantitive easing (QE) programme will continue to run at a rate of €60bn per month until at least September 2016, with interest rates staying at virtually zero.

The eurozone economy remained weak last year, growing by just 0.9%. Nonetheless, this did represent an improvement compared to the 0.4% and 0.8% declines in GDP recorded in 2013 and 2012 respectively.

The eurozone economy has grown only very modestly since it emerged from recession in the second quarter of last year.

Italy slid into recession for the third time since 2008 in the second quarter, underlining the chronic weakness of the eurozone’s third largest economy and pressuring prime minister Matteo Renzi to complete promised reforms.

Italy's president has accepted the resignation of Premier Enrico Letta after he was sacked by his own Democratic party in a back-room mutiny.

Eurozone jobless numbers this week may lay bare a fault line scarring the region’s recovery, as evidence of Germany’s employment muscle contrasts with the political quagmire destroying work in Italy.

Italy has slid into recession, preliminary figures from the national statistical agency confirmed today.

The Italian economy is officially in recession, government data showed today.

Italian Premier Romano Prodi today said his country was leaning toward supporting the end of a 17-year-old European Union ban on arms sales to China, as he signed trade agreements and pledged stronger ties with Beijing.

Italian Premier Silvio Berlusconi invited unions and businesses yesterday to work with the government to jump-start Italy’s faltering economy after figures showed the country plunged into recession in the first quarter of the year.