Monday 10th June, 2013

In what some are calling a classic case of wishful thinking - French president Francois Hollande has sparked a debate across the financial world by making the bold claim that the Eurozone crisis is over. President Hollande made the unusually frank statement at a recent event in Japan.

"You must understand that the crisis in the eurozone is over," he commented during the event. "Europe has become more stable, but it must now be oriented toward growth."

However with the crisis still dominating Italy, Greece and Spain, and unemployment rates, particularly in the under 25s continuing to rise at alarming rates, the comment seem more than a little overstated.

The ECB also remains concerned for the region's stability, but Mr Hollande expressed his belief that ultimately the troubles of the last few years will lead to tougher regulations and greater long term strength.