The Eurozone: Wasting the good times?

Ideally, the year in which the Eurozone has staged an impressive comeback as global growth driver and, for a change, positive surprise of the year, should have climaxed with further steps towards more integration next week. However, the political impasse in Germany as well as a general fading of a verve to reform do not bode well for next week’s European Summit. And beyond. The window of opportunity for further integration seems to be closing again, before it had actually been opened. Below is our take on the current state of play.