The US is booming. The UK is set to grow at the fastest pace in half a century. China is expanding again at a blistering pace. Stock markets are rising. And commodity prices are racing ahead.
Across most of the world, economists are starting to worry about a runaway boom, stimulated by too much easy money. This, they fear, could easily run out of control. There is one exception, however: the eurozone. As of today, the zone is officially in a double-dip recession. The vaccine downturn has arrived. And while the consequences remain unpredictable, one thing is clear: they won’t be good.
The reality is that the eurozone was already the weakest link in the global economy
Looking at the figures from Europe out today you certainly wouldn’t guess there was a global recovery from the Covid-19 crisis underway. The eurozone reported a 0.6 per cent drop in quarter-on-quarter GDP. This follows on from a contraction of 0.7
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