There are many pro-austerity commentators who have been pronouncing that the worst of the Eurozone crisis is over. Of-course, they follow these pronouncements with claims that improvement was all down to the austerity. I must live in another universe because my reading of the data tells me that austerity continues to weigh down growth and prosperity in the Eurozone as industrial production and employment fall. I have been updating my Eurozone databases today to reflect recent Eurostat data releases and this blog provides some insights into what the data is currently telling us. The message is consistent with my interpretation that recovery is still not occurring and a major policy reversal in favour of stimulus is desperately warranted. The data tells us that Eurozone production and employment still going backwards = 5 years after the crisis began.