Merkel Says Europe in Better Shape Thanks to Reforms

German Chancellor Angela Merkel said on Wednesday that the euro zone economy was in better shape than a year ago and said reform efforts by countries like Spain and Ireland had paid off.

“If we look at the euro zone as a whole, we can say that there is an economic recovery, the situation is better than a year ago,” Merkel told the Bundestag lower house of parliament.

“In particular, the euro countries that carried out deep reforms, Spain and Ireland, are growing more than average. Spain is growing as fast as it did before the crisis. We can only say that the reform path was worth it,” she added.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza