Promoting sustainable and inclusive growth and convergence in the European Union. Bruegel Policy Contribution Issue n˚7 | April 2019

Demertzis, Maria and Sapir, André and Wolff, Guntram B. (2019) Promoting sustainable and inclusive growth and convergence in the European Union. Bruegel Policy Contribution Issue n˚7 | April 2019. [Policy Paper]

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Abstract

The European Union can look ahead at the next five years from a good economic position. Employment is comparatively high, the recovery has been uninterrupted for several years and income inequality remains less pronounced than elsewhere in the world. But the EU faces nevertheless formidable economic challenges. In the short-term, there is the potential for strong macroeconomic weakening, resulting partly from uncertainty generated by the global trade conflict. The EU also has a long-term growth and productivity weakness. Finally, the EU, especially the euro area, suffers from a lack of convergence and its social cohesion is threatened.

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