The Ifo research institute released its economic climate data for the Eurozone on Wednesday. The Ifo Index for the economic climate climbed to 129.2 points in the second quarter of 2015 from 112.7 points the previous quarter.

It was the highest level since 2007.

Eurozone's economy was improving. The main contributor was Germany. But here were also improvements in France, Italy and Spain.

An average inflation rate in the Eurozone is expected to be 0.6% in 2015.

"The experts surveyed expressed growing optimism about the six-month economic outlook in most countries. Positive expectations only clouded over slightly in Finland, Italy and Spain. Scepticism on the part of experts in Greece reached levels last seen three years ago,", the president of the Ifo Institute Hans-Werner Sinn said.