In “a three-speed Europe,” Greece, Italy, Portugal and Spain struggle to get in gear.
European Union nations fall into three distinct economic groups, according to economists Andrea Dall’Olio, Mariana Iootty, Naoto Kanehira and Federica Saliola of the European Central Bank. The superstars are fast growers such as the Czech Republic, Poland and Romania – the newer EU entrants that have only recently joined the global economy. In the middle tier are the stalwarts like slow-and-steady Germany, France and the United Kingdom. Bringing up the rear are Greece, Italy, Portugal and Spain. The European Union’s struggles remain a timely and riveting topic, but the writing here is dense and scholarly; don’t expect an easy read. Nonetheless, getAbstract recommends this authoritative report to investors, executives and policy makers.
In this summary, you will learn
- Why the constituent economies of the European Union have diverged in performance;
- How EU countries rank in output; and
- Why Greece, Italy, Portugal and Spain lag behind.
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European Commission, 2015