ECB QE Seems To Be Working...

Last week, the European Central Bank released lending data which suggested that the bank's easing tactics were having a positive impact on the block's forward progress.

With just one month of bond buying behind it, the bank said it's stimulus program had helped to spur on lending to small businesses and individuals.

Money Makes Its Way To Households And Businesses

The report showed that in February, banks issued significantly more loans to both businesses and households than they had in January. The total value of corporate loans increased by €8 billion, while household loans rose by €1 billion.

The region's broad monetary aggregate increased by 4 percent, and the M1 component of that figure was even more impressive.

The M1, which represents cash that is easily accessible and ready to be spent, rose by 9.1 percent in February.

A Leg Up For Struggling Countries

It seems the ECB stimulus program is helping most eurozone nations turn a corner. Spain, which has long struggled with high unemployment and a stagnant economy is expected to see 2.8 percent growth in 2015.

The Bank Of Spain increased its economic growth forecasts for the nation last week, citing lower prices and rising domestic demand as major reasons for the optimism.

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While economic improvement looks to be in the cards, the nation's central bank cautioned that the labor market will likely need more time to improve. The unemployment rate is forecast to remain above 22 percent through the end of the year and could drop to 20.5 percent in 2016 according to the bank's predictions.

Greek Issues Still A Concern

Economic hardship is only half the battle in the eurozone though. Many worry that the rift between EU policymakers and Greek officials will continue to divide the region and add fuel to nationalist, anti-euro movements throughout the region.

The battle over Greece's reform plans is setting a precedent for the bloc moving forward; if EU leaders are too lenient, it may encourage other countries to abandon their own economic reforms, which most economists believe would be disastrous.