Recession stalks Europe as economy shrinks

In 2008, the Eurozone's economy shrank slightly, signaling a potential recession amid a global downturn. The economic decline began with the subprime crisis, spreading globally, compounded by rising oil and food costs. The strong euro also affected European competitiveness. Japan and the US faced similar recession risks. Oil prices and inflation trends are crucial factors, with hopes for inflation to decrease. Politicians are actively seeking solutions, with France and Spain taking measures to revive their economies.

What is the significance of inflation reaching its peak in July 2008?

What measures were proposed by French Prime Minister Francois Fillon to address the economic situation?