A NYT article noted new evidence of economic weakness in Germany and Italy then told readers:
"flagging growth is complicating European leaders’ quest to restore confidence in the euro zone."
Of course one of the main reasons that growth in Europe is weak is the austerity measures that have been imposed across Europe. The loss of demand from the government means that there is less demand in the economy and therefore less growth. Apparently those in leadership positions believe that the confidence fairy will make up for the loss demand from the public sector, but unfortunate for workers living in Europe, the confidence fairy does not exist.