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Euro area governments unable to put in place consistent medium-term fiscal plans face credit-rating pressure even though reducing public borrowing is possible including for highly indebted countries, says Scope Ratings.
After five years of near-zero cumulative growth since the pandemic, Germany’s recovery is unlikely to accelerate without policy reform and an increase in net investment, supported by its significant fiscal space.
It was the eurozone’s strongest quarterly growth since the third quarter of 2022, lifted by stronger-than-expected growth in Germany, France, Italy and Spain.