Some are suggesting the Eurozone is finally recovering. There are two problems with this statement: The Eurozone is a set of disparate countries; some are doing a lot better than others.
The Eurozone is a collection of disparate nations using one currency – the Euro. It is a mistake to look at them as a single entity. In this article, I break them into 5 groups.
In Part 1 of this 2-part series on the growth/austerity issue, the interaction between Europe and the IMF was examined. Here, I examine how the issue is “framed in China and the US.