You won’t believe how these Eurozone bailouts achieved jaw-dropping success

The Eurozone’s Astonishing Success Story

In the tumultuous world of European economics, where Greek borrowing costs rivaled those of France and political turmoil gripped Paris, a surprising success story unfolded. The Eurozone’s so-called “periphery” countries, once at the epicenter of a sovereign debt crisis, have defied expectations and thrived in the aftermath.

1. Significant Economic Growth:

• Between 2019 and 2024, GDP per head in Greece grew by more than 11%, Italy and Portugal saw around 7% growth, and Spain experienced nearly 4% growth.
• Ireland stands out with nearly 18% growth, although this figure is inflated due to tax reasons and intellectual property.

1. Greece’s Defiance of Doomsayers:

• Despite dire predictions in 2015, Greece’s economy has not only outpaced the Eurozone average in growth but has also met the demands of its creditors for primary budget surpluses.
• Recent repayment of debts under early bailout programs showcases Greece’s ability to access cheaper borrowing options in financial markets.

1. Lessons of Solidarity:

• The success of countries like Greece, along with employment growth in other Eurozone nations, underscores the value of solidarity in tackling economic challenges.
• Conditionality and compromises from stronger economies have played a crucial role in putting sovereign debts on a sustainable path.

As we navigate the second half of the 2020s, the Eurozone’s quiet economic triumphs should not go unnoticed. The time has come for France and Germany, the powerhouses of the region, to mirror the support and reforms that have propelled the Eurozone’s periphery nations to success. It is a moment for Europe to embrace unity, resilience, and collaboration for a brighter economic future.