Eurozone confidence hits four-year high as Greece worries diminish

Economic confidence in the Eurozone hit its highest point in over four years this month, according to data released by the European Commission.

 

The bloc's Economic Sentiment Indicator (ESI) reached 105.6 points in September – an increase of 1.5 points from August's figure of 104.1. This puts confidence in the economy at its highest level since June 2011. 

 

There was also a rise of 0.6 points to 107.6 across the whole of the EU. Netherlands, France and Italy experienced the greatest individual increases.

 

The improvement highlights Europe's resilience to the ongoing economic turmoil in China, and follows reduced concerns over Greece's future in the Eurozone.

 

Last week, Alexis Tsipras was sworn in as the country's Prime Minister following a strong victory in snap elections. 

 

The anti-austerity politician secured a €86bn (£64bn) bailout deal from creditors earlier this year, preventing Greece from defaulting and having to leave the single currency zone.