by Thomas Cooley, Ben Griffy and Peter Rupert
Eurostat released estimates of first quarter GDP for the Eurozone a little over a week ago (here), showing modest growth of 0.5% for the more inclusive measure of European countries. This is the 12th quarter in a row that the Eurozone has exhibited positive growth after suffering nearly two years of negative growth 2011-2013. The truth is, however, that the Eurozone has only barely recovered to its pre-recession levels. Furthermore, this growth has been driven by core economies, with countries on the periphery still years away from a full recovery.
As usual, disaggregated data is not yet available for all countries from Eurostat. As we see from the most recent set of available data, a number of countries have recovered beyond their 2008 peaks:
Notably, the large economies of the UK, France (and Germany, though we don’t have the data) are pulling…
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Utopia, you are standing in it! 
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