The Euro zone considered as the group of 17 European countries having economic and monetary union (EMU) where they share a common currency as legal tender known as the Euro(€). The Euro zone went into a crisis and has not well revived from the recession since 2009. The crisis was a rippling effect of the 2007 global financial crisis in the US. As the main cause seen in the 2007 global financial crisis, the easy credit conditions during the 2002-2008 period which encouraged high-risk lending and borrowing practices; the euro zone was not away from those practices. The countries most affected by the crisis in Euro zone were Greece, the most; followed by Ireland, Portugal, Spain and Cyprus.

The central bank of the Euro zone, European Central Bank (ECB) took a number of austerity measures to come back from the crisis stage and still performing to totally revive from the remaining effects of the crisis.

The unemployment rate over the Euro zone is still higher at 12% on the August this year which was decreased by 0.1% as compared to the June data which is not a significant decrease. Similarly, the real GDP growth which was 1.7% in 2011 has sloped negatively to -0.4% in 2012. The inflation rate has somehow decreased from the 3.1% annually in 2011 to 2.6% in 2012. The inflation rate in September fell to 1.1% annually from the August data of 1.3% in 2013. The government debt to GDP ratio increased at the end of the second quarter of 2013 from 93.4% compared to 92.3% of the first quarter. It was 89.9% in the second quarter of 2012. In addition, the current account set positive showing a surplus of 1.2% compared to the second quarter of 2012.

The latest data released of the Flash Consumer Confidence shows that the investors are not still positive in investment though the figure has slight increase from -14.5 from -14.9 in September. The PMI Composite Index rallied down to 51.5 from 52.2 in September, though the above 50 mark up is considered as positive growth. But still it has not totally been able to manage the crisis and is still on its hard way for the positive growth until and unless all the euro zone countries move towards a positive growth.

Euro zone being a major part of the world economy its economic conditions do affect the overall nations of the world. The long run over haul to end, the euro zone is still struggling. The euro zone remains a major trading platform for the emerging and developing economies. The growth of the Euro zone increases demand for goods and services and the production houses of Asian Economies can gain revenue through export of their products. The total recovery and its positive growth are yet to be seen.