Eurozone Plunges into Recession as Stimulus Measures Falter
The euro area’s abysmal performance, sinking into recession during the first quarter, occurs against a backdrop of seemingly favorable conditions. Plummeting energy and commodity prices should have provided a much-needed boost to the euro area’s GDP, bolstering its external sector through reduced imports. However, amidst this surge of irrational exuberance, the Citi global economic surprise…