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Foreword

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  • Clemens Fuest

Abstract

The European economy continued to recover in 2016, albeit at a slightly slower pace. Within the euro area in particular, the ultra-loose policy of the European Central Bank, with its negative interest rates and quantitative easing, led to a devaluation of the euro and boosted Eurozone exports. Structural weaknesses like poor competitiveness and large volumes of nonperforming loans in the financial system, however, illustrate persisting disparities within the European Union. Combined with growing political instability – both within the European Union and around the world – they make Europe’s future economic development look very uncertain.

Suggested Citation

  • Clemens Fuest, 2017. "Foreword," EEAG Report on the European Economy, CESifo, vol. 0, pages 01-02, March.
    • Handle: RePEc:ces:eeagre:v::y:2017:i::p:01-02
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