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Europe’s Rocky Recovery
While the US and the UK have been mired in political chaos this year, the EU has enjoyed improved economic conditions and some political windfalls. The question now is whether this good news will inspire long-needed EU and eurozone reforms, or merely fuel complacency – and thus set the stage for another crisis down the road.
LONDON – So far this year, the crisis-prone European Union has fared better than expected. Economic growth has picked up, unemployment continues to fall, and troubled Spanish and Italian banks have been resolved without sparking a panic.