The euro zone is showing early signs of economic recovery after years of stagnation - growth in the final three months of 2014 was better than expected - at 0.3 percent.

This was slightly higher than the 0.2 percent growth that had been forecasted.

European stocks spiked after the result, hitting a seven-year high.

The zone's two biggest economies grew in the final quarter - with German growth improving - while French growth cooled off.

French finance minister Michel Sapin said: "Growth is obviously still too weak, but the conditions are ripe to permit a cleaner start of activity in 2015."

The Italian economy stagnated in the final quarter - making it the 14th consecutive quarter without growth. Exports improved - but domestic demand weakened.

It is now expected that 2015 will be the first year when the country registers growth since 2011. 

Spain's economy has continued to recover - growing by 0.7 percent in the three months.

Portugal is also showing positive signs - it's GDP is up by 0.5 percent, beating estimates of 0.3 percent growth.

The Eurostat data also says that the Greek economy contracted by 0.2 percent quarter-on-quarter.

These figures end on January 31st of last year - two days after the snap-general election was announced, and a month before the election of the Syriza government.

Annual growth in the country was 1.7 percent - below the forecasted 2.2 percent bounce-back.