The eurozone’s latest economic growth figures are a little better than expected. This group of 19 EU nations grew 2.2 per cent in the second quarter of 2021 compared to the first quarter, partly thanks to decent performances from Spain and Italy.
But while the US and Chinese economies are both now bigger than their 2019 peaks, the eurozone is 3 per cent off that achievement. And when you look more broadly at the state of the eurozone, this turns out to be only the tip of the iceberg.
COVID-19 still overshadows everything around the world, but countries are likely to recover at different speeds once we get back to some sort of normality. This will depend on the structure of their economies, the effectiveness of their recovery policies, and how they deal with high sovereign debts and a foreseeable mix of weakish growth and inflation. But for several reasons, the eurozone particularly worries me.
Four reasons why EU is staring down the barrel of a second lost decade
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Four reasons why EU is staring down the barrel of a second lost decade
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