For the euro area's fourth-largest economy, a long period of no growth will only send property prices lower and undermine the finances of local banks.

Still, there are signs of at least temporary changes in what is the world's fourth-largest economy.

Even France's position as the fourth-largest industrial economy in the world is characterized as the tired claim of an outmoded bureaucracy.

While South Korea, Asia's fourth-largest economy, is likely to follow suit, despite not having committed to anything as yet.

In actual purchasing power, India is now the world's fourth-largest economy, according to the World Bank.

China's new figures suggest that it probably has passed France, Italy and Britain to become the world's fourth-largest economy.

South Korea has the fourth-largest economy in Asia.

China now has the world's fourth-largest economy, surpassing Britain last year.

We are the fourth-largest economy in the world.

The sovereign debts of the eurozone's fourth-largest economy look reasonable, at around 65pc of GDP.