Steen, M., (2013), “Eurozone fails to cheer recovery”, The Financial Times, 10 Οκτωβρίου.
Why is no one cheering? Technically, the eurozone exited its 18-month recession in the second quarter and is back on the path to growth. Yet its supporters – and critics – have remained silent.
Mario Draghi, president of the European Central Bank, may have the answer. “I see a recovery that is weak, that is uneven, that is fragile and that is starting from very low levels,” he said this month.
Unemployment remains close to record highs, hitting the young and at its worst in the southern countries and Ireland. Spain’s rate is 26 per cent, rising to 56 per cent among the under-25s.
And the growth that has been achieved has been anaemic. The International Monetary Fund expects euro area gross domestic product to shrink 0.6 per cent over the course of this year and grow less than 1 per cent next year. Output is still well below pre-crisis levels.
Σχετικές Αναρτήσεις
- Traynor, I., (2013), “Crisis over in the eurozone? Not in the real world”, The Guardian, 09 Οκτωβρίου.
- Buti, M. and Padoan, P.C., (2013), “How to make Europe’s incipient recovery durable – A rejoinder”,VoxEU, 08 Οκτωβρίου.
- Tilford, S., (2013), “Eurozone recovery: The world is not enough”, Centre for European Reform Blog, 03 Οκτωβρίου.
- Roubini, N., (2013), “The Eurozone’s Calm before the Storm”, Project Syndicate, 30 Σεπτεμβρίου.