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Will Eurozone fare better in 2013?

2 January 2013 Last updated at 09:05 GMT

After a year of economic stagnation most people expect a tentative recovery in 2013.

However, hopes for a prosperous new year look bleak across Europe and unemployment across the Eurozone could top 12%.

Tighter government spending, higher taxes and unemployment will not just affect Europe's economic health could also have an impact across the globe.

Nigel Cassidy reports.