In 2017 the global economy is about to experience the biggest boom of the decade – thanks to Europe, the engine of that growth.
Wolfgang Schauble’s trips to Washington over the last few years to meetings of the International Monetary Fund (IMF) have always gone the same way. Each time the German finance minister stressed that the Eurozone was out of the crisis but his international colleagues didn’t believe him. For almost ten years the message from these meetings was always the same, that the global economy’s headache is Europe. However, now the tide is turning.
According to the IMF, the global economy, with a growth rate of 3.5 percent, is about to experience the biggest boom of the decade and the main contributors are european funds. This forecast is not the first indication that 2017, instead of being the final nail in the coffin for Europe, could go into the history books as a turning point.