Herzog-Stein, Alexander; Hohlfeld, Peter; Horn, Gustav A.; … - 2013
The world economy outside the euro area is expected to experience moderate growth rates in 2013 and 2014. In contrast …, the euro area is mired in recession. Fiscal policy outside Germany remains restrictive, notwithstanding the expected … easing of austerity in many euro-area countries. Fiscal austerity will continue to depress domestic demand significantly …