“Europe has been worrying about slowing growth since the start of this century,” Mario Draghi said in 2024. “Various strategies to raise rates have come and gone, but the trend has remained unchanged.”
There is a tendency for gloom to descend when thinking about Europe’s economic and business prospects. In comparison with America, the Gulf and Asia, the mature markets of the EU and the rest of the continent have languished. Since the financial crisis, GDP growth in the euro-area has averaged 0.9% a year. In the U.S., it is above 2%.
