Euro zone: The weak spontaneous growth dynamics

The euro-zone economy has for several years benefited from significant stimulus through: The growth in global trade and in exports, with its effect on investment; The very expansionary monetary policy. When looking at the modest performance of euro-zone growth and the magnitude of this stimulus, we see that the spontaneous dynamics of euro-zone growth, excluding stimulus, is very weak (a little more than 1% per year), which is a worrying finding.