Economics and politics - comment and analysis
Euroland’s ‘Recovery’ – Three Cheers for... Euroland’s ‘Recovery’ – Three Cheers for Dr Schäuble!
30. September 2013 I Jörg Bibow I Business Cycle Analysis, Economic Policy, Europe, General

Euroland’s ‘Recovery’ – Three Cheers for Dr Schäuble!

Never miss a party – especially one you’ve been desperately waiting for so long. So much the authorities in Europe’s currency union clearly understand. As soon as Eurostat had released its first estimate for GDP growth in the spring quarter in mid August (1st estimate here), which was missing the by now customary negative sign, the champagne began to flow…


Never miss a party – especially one you’ve been desperately waiting for so long. So much the authorities in Europe’s currency union clearly understand. As soon as Eurostat had released its first estimate for GDP growth in the spring quarter in mid August (1st estimate here), which was missing the by now customary negative sign, the champagne began to flow, it seems, accompanying all-round self-congratulatory shoulder-slapping.

For instance, Spain’s economy minister Luis de Guindos confidently noted that “Spain will show clearly the quality of the policies implemented in the eurozone” (FT.com 4 September 2013). And European Commission President José Manuel Barroso declared in his State of the Union Address on 11 September 2013 that “the facts tell us that our efforts have started to convince.” Germany’s finance minister Wolfgang Schäuble also joined the chorus, just in time for the federal election, proudly announcing in The Financial Times that “while the crisis continues to reverberate, the eurozone is clearly on the mend both structurally and cyclically.” Dr Schäuble declared with poise that “what is happening turns out to be pretty much what the proponents of Europe’s cool-headed crisis management predicted. The fiscal and structural repair work is paying off, laying the foundation…
Thanks for reading this short excerpt from the paid post! Fancy buying it to read all of it?

Read Now, Pay Later

  • Buy Now

    Just agree to pay later.
    No upfront registration and payment.

  • Read Immediately

    Access your purchase immediately.
    You are only buying this article, not a subscription.

  • Pay Later

    Buy with LaterPay until you reach a total of 5 Euro.
    Only then do you have to register and pay.

powered bybeta

1-Month Pass

1 Month access to all content on this website

Back
Validity1 Month
Access toAll content on this website
Renewal No automatic renewal
Price5.00 EUR

3-Month Pass

3 Month access to all content on this website

Back
Validity3 Months
Access toAll content on this website
Renewal No automatic renewal
Price15.00 EUR

6-Month Pass

6 Months access to all content on this website

Back
Validity6 Months
Access toAll content on this website
Renewal No automatic renewal
Price30.00 EUR