Hope in the Euro Zone. Crisis-Hit Countries May Have Turned the Corner

The euro zone's crisis-hit countries are becoming more competitive, according to a new German study by the Association of German Chambers of Industry and Commerce (DIHK), commissioned by the Financial Times Deutschland newspaper issued in August 2012.

Wage costs are down, and the countries are reducing their trade imbalances. Painful reforms appear to be slowly bearing fruit, and the euro zone might even return to growth next year.