Investor’s wariness towards the euro zone is repetitive

International investors' wariness towards the euro zone h as been perceptible: From 2010 to 2013, due to the "sudden stop" crisis between euro-zone countries; In 2016 due to political risk in France; In 2018 due to political risk in Italy. Thi s wariness h as been reflected by capital outflows, a decline in the equity market, widening credit spreads, and a depreciation of the euro exchange rate. It has harmed the euro zone's growth due to: Major fluctuations in the euro exchange rate; Increased financing costs; Capital outflows that have reduced the capital investable in the euro zone.