The good news:
The German economy has come to a near-standstill in the last quarter as the global slowdown hit Europe's biggest player.
In the latest blow to the eurozone, Germany grew by just 0.1% between April and June. Economists had expected growth of 0.5% during the quarter. Germany's Federal Statistics also revised down the growth in the first quarter of 2011, to 1.3% from its initial estimate of 1.5%.
The most rapid growth was recorded by Latvia with a 2.2% increase in GDP during the second quarter of 2011.Well, bully for Latvia!