{"id":38990,"date":"2024-04-30T10:06:48","date_gmt":"2024-04-30T10:06:48","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/30\/europes-economic-laggards-have-become-its-leaders\/"},"modified":"2024-04-30T10:06:48","modified_gmt":"2024-04-30T10:06:48","slug":"europes-economic-laggards-have-become-its-leaders","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/30\/europes-economic-laggards-have-become-its-leaders\/","title":{"rendered":"Europe\u2019s Economic Laggards Have Become Its Leaders"},"content":{"rendered":"
\"Europe\u2019s<\/div>


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Something extraordinary is happening to the European economy: Southern nations that nearly broke up the euro currency bloc during the financial crisis in 2012 are growing faster than Germany and other big countries that have long served as the region\u2019s growth engines.<\/p>\n

The dynamic is bolstering the economic health of the region and keeping the eurozone from slipping too far. In a reversal of fortunes, the laggards have become leaders. Greece, Spain and Portugal grew in 2023 more than twice as fast as the eurozone average. Italy was not far behind.<\/p>\n

Just over a decade ago, Southern Europe was the center of a eurozone debt crisis that threatened to pull apart the bloc of countries that use the euro. It has taken years to recover from deep national recessions and multibillion-dollar international bailouts with harsh austerity programs. Since then, the same countries have worked to mend their finances, attracting investors, reviving growth and exports, and reversing record-high unemployment.<\/p>\n

Now Germany, Europe\u2019s largest economy, is dragging down the region\u2019s fortunes almost single-handedly. It has been struggling to pull itself out of a slump set off by soaring energy prices after Russia\u2019s invasion of Ukraine.<\/p>\n<\/div>\n