Is Europe finally in recovery mode?


After five years of hard times, it does seem that things are finally looking up. According to the latest indicators and reports, the European Union is slowly emerging from an unprecedented period—in terms of both length and depth—of recession. The EU is on the right track, says the European Commission, but the recovery remains fragile. As the International Monetary Fund wrote following its consultation with the euro area in July 2014: “Real output has expanded for four consecutive quarters, and financial market sentiment has improved markedly . . . but the recovery is neither robust nor sufficiently strong. Risks to growth are still tilted to the downside.”
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