Europe Still Contracting, France Officially Back in Recession

The Euro Zone economy shrank more than expected during the first three months of 2013, revealing a group of nations still deeply mired in recession.

The Euro Zone, which has relied on austerity measures to combat flagging economies, contracted by 0.2 percent during the beginning of this year.

Germany's economy remained stagnant, while France finished its second quarter of economic contraction, meaning it's now back in a recession.

Since the 2008 financial crisis, the Euro Zone has struggled to restart economic growth, and has yet to experience a fun little bubble like the United States.

None of this is good news, as a deflated austerity-obsessed Euro Zone, coupled with the long-term effects of the sequestration in the United States, means an even longer recover (er, if there is one), and a whole lot more of these.