In 2023, Greece, Spain, and Portugal grew over twice as fast as the eurozone average, with Italy following closely.
Southern Europe, formerly the center of the eurozone debt crisis, has recovered through financial mending, attracting investors, reviving growth, and reversing high unemployment.
Germany, struggling due to soaring energy prices post-Ukraine invasion, is dragging down the eurozone. The region grew 0.3% in Q1 2024; Germany grew 0.2%, while Spain and Portugal grew over three times faster.
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