News Colm McCarthy

Wednesday 28 January 2015

Euro stuck in danger zone without an escape plan 

Rosy assessments of economic prospects in Europe keep running up against a few inconvenient truths: the economies in most countries are showing no signs of recovery, the banking system is still broken and there is no political willingness to fix it. The overall stance of macroeconomic policy at eurozone level remains restrictive, despite the evidence of widespread stagnation. The policy stance is to issue upbeat forecasts while doing nothing to make them a reality.

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