Nordea Bank notes.. At country level, we expect the German economy to grow by 1½% to 2% in 2015 and 2016. A rising tide lifts all boats, as the saying goes, and so we also expect the French and Italian economies to pick …
At country level, we expect the German economy to grow by 1½% to 2% in 2015 and 2016.
A rising tide lifts all boats, as the saying goes, and so we also expect the French and Italian economies to pick up.
However, growth is likely to remain subdued due to a lack of competitiveness and unresolved structural problems.
With an annual growth rate of 2% to 2½%, we expect Spain to remain the fastest growing among the larger economies. The recovery seems fairly broad-based and stable.
Regional and national elections later this year will be a first test of whether Greek-style political changes will spread to other countries.
It's our base case that Spain will continue to play by the rules of the creditor countries.
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