The Eurozone recovery: Good is not good enough

The Eurozone economy could be the positive growth surprise of the global economy in 2017. So say ING’s Carsten Brzeski and Bert Colijn. But they have a warning to European leaders; more needs to be done to ensure the effect is structural and not short lived.

In this report, they put the recovery into perspective. Clearly, political risks are diminishing, and they note that elections in the Netherlands and France show the limits of anti-euro and anti-European populism. And data this week should confirm the Eurozone economy has growth faster than those in the US or the UK in the first quarter of the year. However, they argue that the structural problems and weaknesses of the Eurozone will prevent any drastic change to the European Central Bank’s monetary stance and far more needs to be done to ensure continued economic success.