The closer you read Willem Buiter's imperial uber-blick of the world economy, the more astonishing it becomes.
Citigroup's end of year forecast – Prospects for Economies and Financial Markets in 2013 and Beyond – is in essence a celebration of American revival and ascendancy. It sentences Europe to slow economic death.
The growth gap in 2012 between the US (+2.2) and the eurozone (-0.4) is the 2.6pc, the biggest since 1993.
Professor Buiter – Citi's chief economist – said this is not a one-off. The differential will widen to 3.4pc in 2014 and continue at extreme levels into the latter part of the decade.
Read more: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100021573/citigroup-sentences-to-europe-to-faster-ecomic-death/#dPostComment
Citigroup's end of year forecast – Prospects for Economies and Financial Markets in 2013 and Beyond – is in essence a celebration of American revival and ascendancy. It sentences Europe to slow economic death.
The growth gap in 2012 between the US (+2.2) and the eurozone (-0.4) is the 2.6pc, the biggest since 1993.
Professor Buiter – Citi's chief economist – said this is not a one-off. The differential will widen to 3.4pc in 2014 and continue at extreme levels into the latter part of the decade.
Read more: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100021573/citigroup-sentences-to-europe-to-faster-ecomic-death/#dPostComment
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