The economy grew at its fastest pace in 1-1/2 years, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012.
The UK is suffering collateral damage from the euro zone crisis, says George Osborne, UK Chancellor of the Exchequer. The UK has been constructive in helping the euro zone, he adds.
"I am convinced we can avoid a Greek default," Wolfgang Schauble, Germany Federal Minister of Finance tells CNBC's Maria Bartiromo. "We are trying to do a growth friendly deficit deduction," he adds. Oilli Rehn, European Commissioner for Economic and Financial Affairs, also weighs in.