Is recent euro-zone weakness down to the Ukraine crisis?

The latest falls in business confidence and the weakness of euro-zone exports seem to relate partly to the effects of the Ukraine crisis and could therefore be fairly short-lived. But there is a risk that these effects persist or even worsen if the crisis intensifies. Moreover, there are some worrying signs of renewed weakness in the euro-zone domestic economy which suggest that the recovery will remain very slow even if fears about the crisis turn out to be overdone.