Europe’s rebound is “pathetic”, says Hugo Dixon on Reuters.com. Growth is set to reach just 1% this year. There are bright spots, such as “a moderate recovery” in Spain, now enjoying the fruits of a “root-and-branch overhaul of its labour market and banking system”. But France, slow to embrace reforms, is falling behind.
And a key business confidence indicator in Germany, which accounts for around 30% of eurozone GDP, has now slipped for three months in a row.
So it’s just as well that listed eurozone firms make plenty of money outside Europe. In Germany’s Dax index [...]