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Eurozone becoming healthy

FRANKFURT: The eurozone may finally be emerging from its crisis, data showed Friday, with banks rushing to repay emergency funding and confidence in Germany on a seemingly unstoppable upwards trajectory, reports AFP.

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The embattled euro ended the week on a high note, rising to well above $1.34 after the European Central Bank said the region’s banks are starting to pay back ahead of time loans taken out a year ago to avert a looming credit crunch in the single currency area.

ECB chief Mario Draghi, speaking at the World Economic Forum in Davos, hailed what he saw as the new-found tranquility on the financial markets and said “all the indices point to a substantial improvement of financial conditions.”

And in Germany, Europe’s biggest economy, both business and investor confidence are on the rise.

Asad Haroon
Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon and can also be approached on Google+

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