21.   Restoring confidence will take time, the report said, but the picture is not totally black.

22.   The European economy got more bad news this week when figures showed that consumer and business confidence took a dive in June throughout the region.

23.   While producer confidence has taken a hit in recent months, European consumers are still upbeat, due to employment growth and tax cuts.

24.   At the same time, analysts ruled out the possibility of a sharp rally in the near-term because investor confidence would take some time to recover.