Daily chart: Growing pains | The Economist:
"The euro area celebrates its 15th anniversary with its 18th member
WHEN Europe’s single currency was born in 1999 it could never have anticipated such a troublesome four years. Since 2010 bail-outs of Greece, Ireland, Portugal and Cyprus have been followed by severe austerity, economic upheaval and political fractions across the euro area. In 2014 Latvia becomes the 18th member of the currency bloc. Ireland will exit the bail-out programme, though Greece, Portugal and Cyprus are likely to require additional funds (ie: another bail-out). Meanwhile Germany’s faith in the project remains strong—that may be because it has been one of the largest beneficiaries. GDP per person has risen by over 20% in Germany since 1999; that contrasts sharply with a 3% decline in Italy. Full article here.
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"The euro area celebrates its 15th anniversary with its 18th member
WHEN Europe’s single currency was born in 1999 it could never have anticipated such a troublesome four years. Since 2010 bail-outs of Greece, Ireland, Portugal and Cyprus have been followed by severe austerity, economic upheaval and political fractions across the euro area. In 2014 Latvia becomes the 18th member of the currency bloc. Ireland will exit the bail-out programme, though Greece, Portugal and Cyprus are likely to require additional funds (ie: another bail-out). Meanwhile Germany’s faith in the project remains strong—that may be because it has been one of the largest beneficiaries. GDP per person has risen by over 20% in Germany since 1999; that contrasts sharply with a 3% decline in Italy. Full article here.
"
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