The recession in the euro-zone economy was the highest since 1995.

Eurozone GDP in the first quarter of 2009 fell by 2.5 percent compared with the previous quarter. This is stated in the official press release published on the website of Eurostat. The recession in the economy of the euro in January-March this year was the highest for 13 years - since the beginning of the collection of data for GDP in 1995.
It should be noted that EU GDP also fell by 2.5 percent compared with the previous quarter. Recall that eurozone GDP in the fourth quarter of 2008 fell by 1.6 percent compared with the previous quarter, and the EU - to 1.5 percent.
The euro-zone economy in the first quarter of 2009 decreased by 4.6 percent over the same period last year, but the entire region - at 4.4 percent. In the first quarter statistics recorded a decline of 1.4 percent as the euro, and in the EU.
According to the IMF, the GDP will decline in the euro zone this year to 4.2 per cent, which would be the worst figure in postwar history.
Because of the crisis, European Central Bank began to dramatically lower the base rate refinance in an attempt to avoid an even greater slowdown in the economy. Now the rate lowered to 1.25 per cent, which is the lowest value for all time.