Eurozone Economic Confidence Slides In May

And May You Stay Forever Young... (Photo credit: hjhipster)

Economic confidence across Europe fell sharply in May, the European Union's executive branch said Wednesday, in a further sign that the recent escalation in the region’s debt crisis is being felt across the continent.

The European Commission said its economic sentiment indicator for the 17 countries that use the euro fell by 2.3 points in May to 90.6 — its lowest level in around two and a half years.

That’s a bigger fall than expected and may be a sign that rising concerns over Greece’s continued membership of the euro and Spain’s ability to prop up its ailing banks is denting confidence in the economy.

A Greek exit from the euro or a worsening financial crisis in Spain could disrupt the eurozone’s shaky banking system and hurt businesses ability to borrow and expand... Continue to read.

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