European November unemployment rate increased to 7.8% from 7.7% in previous month, in line with the economist expectation, which is the highest level in 2 years. December data showed that even the German labor market, which still remained steady in November, is now feeling the chill from the fallout of the financial crisis and Euro-Zone unemployment is set to rise sharply this year and act as a fading demand led companies cut production and jobs. Meanwhile, Euro-Zone third quarter GDP was confirmed at -0.2%. Deteriorate fundamental confirmed that Euro-Zone is in its worst recession in decades and raised speculation that the European Central Bank will continue their easing cycle as policymakers carry out their one and only mandate to ensure price stability.