Jean-Claude Juncker, the president-elect of the European Commission, wants to mobilize an additional €100 billion for public and private investment each year for the next three years. But, at a time when private income has shrunk and public resources are scarce, plans to stimulate investment should be carefully scrutinized.
PARIS – Economic growth in Europe remains disappointing. Virtually all European Union members are expected to post higher output in 2014; but, according to the International Monetary Fund’s latest projections, the average growth rate in the eurozone will barely exceed 1%. And, whereas the British economy is displaying strong momentum, its GDP has only now surpassed the pre-crisis mark. In per capita terms, the EU is still poorer than it was seven years ago.
PARIS – Economic growth in Europe remains disappointing. Virtually all European Union members are expected to post higher output in 2014; but, according to the International Monetary Fund’s latest projections, the average growth rate in the eurozone will barely exceed 1%. And, whereas the British economy is displaying strong momentum, its GDP has only now surpassed the pre-crisis mark. In per capita terms, the EU is still poorer than it was seven years ago.