Imbalances in the European Union

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Policy Brief 1 2015

By Signe Dahl (Senior Economist) and Anne Marie Krogsgaard Andersen (Research Assistant)

The financial crisis in 2008 was the starting point for the most severe economic crisis since the Second World War. Since 2008 the European Union has been in recession twice. Now – six years after the crisis broke out – domestic demand is still subdued and the economies are growing at a slow pace at best. Put differently Europe is still affected by the crisis and recovery prospect is bleak.