The eurozone could surprise everyone with a dramatic recovery this year, says Gavekal Dragonomics’ Anatole Kaletsky, so long as populists stay out of power.
Where in the world would you expect economic growth to accelerate most this year? In my view, the region set to enjoy the most positive economic and financial surprises this year will be the European Union, and specifically the much-maligned eurozone.
Growth in Europe has languished since the 2008 crash for a number of reasons, including delays in agreeing on aggressive monetary and fiscal expansion, similar to America’s.
But a change began, little noticed, two years ago when the European Central Bank launched an even bigger bond-buying program than the US Federal Reserve’s.
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