For all the talk of economic turmoil in Europe, signs point to the Eurozone doing well. Photo: Pexel

Read much of the British press’s output on the European economy and it won’t be long before you come across words like “sclerotic”, “stagnant” or “moribund.” There is a peculiar type of glee that is found in talking up the Euro’s inevitable demise; doubly peculiar when one considers that a serious crisis in the UK’s largest trading partner would hardly be good news for our own economy.

The alleged catalyst for this seemingly inevitable meltdown has been pinned on different culprits over the past two years: the Greek debt crisis, Italy’s constitutional referendum last year, or anti-Euro right-wing populist victories in the Netherlands or France this spring.

Somehow, though, all these bullets have been dodged. In fact, as the Brexit talks begin, the Eurozone economy looks to be in much better shape than the UK’s.

An awful decade

No serious analyst can fail to acknowledge that the Eurozone economy has suffered an awful decade. Unemployment—and especially youth unemployment—has been unacceptably high. Greece has suffered a depression whilst the other “peripheral” economies of Portugal, Ireland, Spain and Italy went through extremely tough years.

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