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The CEPII Newsletter       
June 2014        

The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources

Diverging Trajectories Following the Crisis

Only Germany and the US have succeeded in recovering to pre-crisis levels, with an overall increase of 4% between 2007-2013, against a modest 0.7% in France and negative values for the other countries.
Benjamin Carton, Jérôme Héricourt, Fabien Tripier

Monetary and financial measures have been too slow in the euro area

While structural reforms are a good lever for growth in the long term, they need to be accompanied by much stronger cyclical policies, especially given the recessionary environment. All of the reforms are designed to reduce the flaws of the Economic Monetary Union, but the long delays are leading to a high degree of financial uncertainty, which is detrimental to growth.
Benjamin Carton, Jérôme Héricourt, Fabien Tripier

ISSN: 1255-7072
Editorial Director : Antoine Bouët
Managing Editor : Dominique Pianelli