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By Andrei RADULESCU, Ph.D., Senior International Macroeconomist
The introduction of EURO in 1999 was one of the most important macroeconomic events in the history of the world, and the most relevant in Europe in the past century, especially in the context of the World Wars.
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However, the macroeconomic performance of the Euroland since its inception was significantly weaker when compared to the USA, the largest economy in the world. Since the launch of the euro the economy of the Euro Area (with a nominal dimension of EUR 15.2tn in 2024, representing around 85% of the GDP of the European Union) grew by an average annual pace of 1.3%, according to the database of Eurostat (2025).
During...
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