Free exchange: The euro zone’s boom masks problems that will return to haunt it

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Europe’s boom will not last; it had better make the most of it

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The second chance

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Free exchange

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Free exchange

“WHAT does not kill me makes me stronger,” wrote Nietzsche in “Götzen-Dämmerung”, or “Twilight of the Idols”. Alternatively, it leaves the body dangerously weakened, as did the illnesses that plagued the German philosopher all his life. The euro area survived a hellish decade, and is now enjoying an unlikely boom. The OECD, a club of mostly rich countries, reckons that the euro zone will have grown faster in 2017 than America, Britain or Japan. But, sadly, although the currency bloc has undoubtedly proven more resilient than many economists expected, it is only a little better equipped to survive its next recession than it was the previous one.
Europe’s crisis was brutal. …

Link to article: www.economist.com/news/finance-and-economics/21731822-mismatch-between-its-economic-and-political-institutions-persists-euro?fsrc=rss

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