Current Size: 68%
The banking union is a work in progress but a significant step in the right direction. However, it will not be enough for a proper recovery.
Aggressive fiscal and regulatory policies are needed to counteract the effects of divergent real interest rates in the eurozone – but this is not happening.
The gap between the eurozone’s richer and poorer members is as wide as in 1999 and is growing. Poorer prospective members should take note.
Eurozone governance is politically unsustainable: its rules and institutions favour creditor over debtor countries. Eurozone policy-makers need to change direction before it is too late.
German investment is low while German borrowing costs are at record lows. Convincing the German government to invest will not be easy, for political reasons.
A group of experts finds that, after leaving the EU, the UK would face an invidious choice: sign up to the single market’s rules, or suffer economic damage.
With just as many reasons for pessimism as for optimism in the eurozone, policy-makers need to further stimulate demand and pursue more targeted reforms.
There are three years to go before a possible referendum on Europe, and already it’s impossible to know what to think
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