Germany runs, France stands still, while Italy takes a step backwards – GDP data for the first quarter ruthlessly reminded us how fragmented the recovery is inside the single currency bloc.
The eurozone’s overall growth was 0.2 percent, the same pace observed at the end of 2013.
That low growth is linked to the crisis and, according to the leaders of major international financial organisations, the global economy is not “out of the woods” yet.
Among the downside risks is low inflation, which especially affects the eurozone, as confirmed by April’s 0.7 percent reading.
Another legacy is the high rate of unemployment. In Europe, a survey found that, despite the recovery, many small and medium sized companies cannot hire new staff because of growing unpaid debts.
Finally, we drink our troubles away with an in-depth look at the changing trends in the world of wine as the overtakes France as the world’s biggest market.
That’s all in this edition of Business Weekly.