Allianz Euro Monitor 2017: Economic tailwind but reluctance to reform

From an economic point of view, the eurozone could hardly be in better shape than it is today. The upswing seems likely to continue , the peak has just begun. This development is reflected in the results of this year's Euro Monitor, with which we measure the state of the euro economies on the basis of 20 indicators every year.

The net interest income of private households

In summer 2017, the ECB made a surprising move by releasing calculations on the net interest income of households in various EMU countries. According to the ECB's data, the income effects of the low interest rates were low in general (totaling up to 2% of GDP at the most), to the extent of being negligible in Germany. What is more, there were no signs of any pattern emerging with regard to the effects - with more positive effects on the (indebted) "south" of the continent and more negative effects on the (thrifty) "north".