EIM Budgetary - January 2014
11 February 2014
Good news is building up around the euro area. But the biggest plus point could be a historic turn in French economic policy. Has Hollande begun a U-turn to match that of Mitterrand 30 years ago?
<div> <p style="text-align: justify;"> <u>Summary</u></p> <p style="text-align: justify;"> <strong>Good news is building up around the euro area:</strong> <strong>Spain</strong> has emerged from its ‘bank’ programme with its banks in a comfortable solvency position and a recovering economy. <strong>Ireland</strong> is seeing a settled trend in employment growth – perhaps the most encouraging indicator. <strong>Portugal</strong> is making startling progress: deficit below target; debt declining at the EU’s fastest rate; first current account surplus in two decades; and the first primary surplus since 1997. But <strong>Greece</strong> remains the outlier: 555 OECD recommendations to remove regulatory restriction on competition and the government seems only likely to accept 80%.</p> <p style="text-align: justify;"> <strong>But the biggest plus point could be a historic turn in French economic policy. Has Hollande begun a U-turn to match that of Mitterrand 30 years ago?</strong></p> <p style="text-align: justify;"> <a href="http://grahambishop.com/DocumentStore/20f2a90b-917f-4282-9dbe-07a30bb0920b.pdf" target="_blank">Full article</a></p> </div>
© Graham Bishop
