Growth offers Hope

Delivering sustainable economic growth
Posted Oct 09, 2018 | Chatham House, Duncan Weldon

Europe’s economy is both stagnant and crisis-prone but is proving resilient and showing signs of growth. In this assessment for Chatham House, Duncan Weldon suggests that although flaws in the institutional architecture of the eurozone may remain, they are no longer holding the economy back as they did early in the 2008 crisis. Eurozone growth is expected to remain above trend for 2019 and 2020 while unemployment is expected to drop back towards seven per cent. However, the architecture of the eurozone is structurally flawed. Capital markets are not European enough; fiscal transfers have remained low; and coordinated eurozone action may prove fleeting in times of crisis although structural problems have yet to be addressed.


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