A Notch or a Hole
Fernando G. Urbaneja | Economies around the world, and in Europe in particular, have been improving for less than a year, the recovery after the Great Recession peaked, to weaker growth times, including some local recessions (for example in Italy). The causes were known and repeated: trade war, Brexit, insufficient and confused fiscal policies, geopolitical uncertainties. But the “black swan” was missing, the unforeseen that becomes a necessary excuse, the scapegoat, for a trend change and even an end of cycle.









