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The Eurozone’s Hidden Strengths
Article

The Eurozone’s Hidden Strengths

Daniel Gros
CEPS, 2017
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Editorial Rating

8

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Recommendation

The euro-zone economies faced a rather bleak outlook during their time of crisis in 2011 and 2012. Indeed, observers then opined on the bloc’s imperiled future and even possible dissolution. But the euro area overall has been experiencing an economic recovery largely due to its “soft austerity” policies, according to this astute analysis by economist Daniel Gros. getAbstract recommends his timely commentary, accessible to both the policy expert and the informed reader, for its cogent arguments.

Summary

Since 2012, the euro zone has labored under the reputation of being an economically savaged region, ill-equipped to handle monetary union. Indeed, this perception, among other reasons, motivated a majority of Britons to vote in favor of leaving the European Union in June 2016. But the euro area has been experiencing a comeback, achieving a per capita growth rate in 2017 exceeding that of the United States. Since 2012, some five million new jobs accrued to the euro zone, while 2.5 million workers joined the region’s labor force.  

This recovery has progressed...

About the Author

Daniel Gros is the director of the Centre for European Policy Studies. 

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