Europe’s economy is showing signs of recovery, despite widespread despair over its prospects.
Surveys suggest Europeans are pessimistic about the continent’s future, but International Monetary Fund chief Kristalina Georgieva told Politico that was misplaced: Seven of the world’s top 10 performing economies are European, and ING analysts said Germany’s economy, stagnant for years, is expected to accelerate this year after stimulus.
The continent still faces economic challenges. Georgieva echoed former European Central Bank head Mario Draghi in calling for deregulation and economic integration, while consulting firm BCG said in a report published today that both problems could be alleviated by changing the financial architecture of European state pension funds, freeing up capital to invest in the continent’s businesses.
