Eurozone Quarterly: The gradual, but not great, re-opening

As ever, the EU is muddling through. The post-pandemic recovery response has been robust, but we think there will be more. The gradual re-opening of the economy provides hope, but with social distancing norms here to stay and inflation still not going anywhere, a subdued recovery is all we expect. And we seem to be inching closer to the common bond dream too

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Eurozone Quarterly: The gradual, but not great, re-opening

Executive summary

In this edition of ING's Eurozone Quarterly, we take a look at what's really going on economically and politically in the bloc's major countries.

Eurozone: Bottoming Out
Germany: Austerity champion turns into a big spender
France: Looking for a second chance
Italy: Still in emergency mode
The Netherlands: Cherishing the restrained shock
Spain: A terrible shock and a weak recovery
Greece: Less affected by the virus, but vulnerable to dependence on tourism
Belgium: Multiple challenges
Austria: Crucial summer for recovery
Portugal: Swift response, but a sharp shock anyway
Ireland: Defying gravity?
Finland: milder than the rest
Eurozone: Debt monetisation by stealth
EU Summit: A bit united in still a lot of diversity

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