The euro zone is caught in a vicious circle

The vicious circle in which the euro zone is caught is the result of the following cause-and-effect mechanisms: Falling labour productivity and low employment rates; Resulting in a depressed level of real GDP; Resulting in low tax revenues and reduced earnings; Resulting in a weak capacity to make the necessary public investments, public spending and private investments; Which means that productivity and employment rates are once again falling behind those in the United States, for example.