The euro zone: A general recovery

Zone euro: reprise généralisée

Christophe Blot ()
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Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

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Abstract: This text is based on the 2017-2019 outlook for the global economy and the euro zone. The euro zone has returned to growth since mid-2013, after having experienced two crises (the financial crisis and the sovereign debt crisis) that led to two recessions: in 2008-2009 and 2011-2013. According to Eurostat, growth accelerated during the third quarter of 2017 and reached 2.6% year-on-year (0.6% quarter-on-quarter), its highest level since the first quarter of 2011 (2.9%). Beyond the performance of the euro zone as a whole, the current situation is marked by the generalization of the recovery to all the euro zone countries, which was not the case in the previous phase of recovery in 2010-2011. Fears about the sustainability of the debt of the so-called peripheral countries were already being reflected in a sharp fall in GDP in Greece and the gradual slide into recession of Portugal, Spain and a little later Italy. [First paragraph]

Keywords: Unemployment; Monetary policy; Budget policy; Chômage; Politique budgétaire; Politique monétaire (search for similar items in EconPapers)
Date: 2018-01-02
Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03455340
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Published in 2018

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