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Europe has suffered economically in the past through debt crises, bailouts, unemployment, recession and deflation, but changes are happening.
The European Central Bank (ECB) is expecting a strong recovery very soon. Oil has been cheaper. Many homeowners and business owners have needed to borrow money recently to keep their homes/businesses though. Many countries in Europe have seen good expansions lately.
Deflation has also been occurring and the ECB says that prices may continue to fall before inflation returns shortly. Along with deflation, unemployment rates are falling. About 18 million people are still jobless within the 19 counties of the ECB. A few million people have found jobs in the last year, bringing unemployment to 11.2%. They hope to continue lowering this unemployment rate.