Can Europe Surprise? Only With Reforms

Is Europe in secular decline? If so, can it be halted? Since as recently as 1990, the region's share of global GDP has declined from 24% to 14%. Even compared to other advanced economies, Europe has lost ground. Indeed, since 2005 European GDP growth has trailed the USA by 0.7% annually (the gap is less [...]

Germany: Curing Europe’s Sick Man?

15 October 2023 Once admired as Europe's growth engine, Germany is now being identified as the region's "sick economy". Indeed, Germany's post-Covid recovery has lagged far behind the world's other advanced countries (Chart below). And, the nation's underperformance pre-dates the pandemic. What lies behind Germany's growth malaise, and can Europe's "Sick Man" be cured? To [...]