The European Central Bank’s (ECB) decision to taper its monthly asset purchases from €60 billion to €30 billion is the latest sign that the euro zone economy has awakened from its post-crisis torpor. After growing at a 1% annual rate for nearly a decade, the euro zone has sustained better than 2% annualized growth for five consecutive quarters. Recent data point to continued momentum in economic activity, with growth likely to remain at or above current rates for the foreseeable future.
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