PressNewsStudiesProgress towards balanced growth in eurozone

Progress towards balanced growth in eurozone

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich

Contact overview

Receive the latest Allianz news.


Follow Allianz in the social networks:


  • Contact

  • Newsletter

  • Social Media

This year’s Allianz Euro Monitor reveals that, for the first time since 2007, the macroeconomic imbalances within the eurozone as a whole have decreased slightly. The private sector, in particular, has managed to reduce debt levels significantly. The Euro Monitor is an early warning tool measuring the extent to which individual EMU member states are achieving balanced growth and thus contributing to the stability of the euro area.

Allianz SE
Frankfurt am Main, Dec 07, 2011

Michael Heise, Allianz chief economist

Prof. Dr. Michael Heise, chief economist of Allianz SE, on the results of this year’s report: "2011 was evidently critical for the eurozone. The confidence of financial markets in the sustainability of sovereign debt is not yet restored. However, although overshadowed by the frantic discussions on financial markets about apocalyptic outcomes and a possible blow-up of the eurozone, there actually have been some encouraging developments, as the report shows."

Ahead of this week’s pivotal EU summit, Heise sees Europe at a crossroads: "EU leaders must map out a credible path to a workable fiscal union that banishes the dangers of fiscal profligacy for the future. This will require the pooling of fiscal sovereignty and a tight governance regime, including a Finance Commissioner with intervention rights, to ensure that public finances can no longer veer out of control. Leaders must demonstrate that Europe and the eurozone have not lost their direction. Half-baked or half-hearted measures will not suffice."

The Allianz Euro Monitor 2011, the second edition of the successor to our long-running European Growth and Jobs Monitor, captures the picture in late 2011 as the eurozone endeavours to get to grips with the sovereign debt crisis. Both the Growth and Jobs Monitor and the Euro Monitor have long been flagging the need for fundamental reform in the eurozone and highlighting the risks emanating from unbalanced growth. The Euro Monitor evaluates and ranks the 17 eurozone countries based on their contribution to balanced growth.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.
Link to the disclaimer

Contact for press

Group Communications

Phone +49.89.3800-18475

Send e-mail