The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP
The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP
David Brown
Opinion

Opinion

Macroscope by David Brown

With the EU at risk of a double-dip recession, investors’ faith in the euro is being severely tested

  • Despite a strong rebound in the third quarter, the bloc recorded a 0.4 per cent contraction in the fourth, raising fears of a double-dip recession
  • Bungled handling of Covid-19 mass vaccination is complicating the bloc’s economic troubles, putting further strain on its fragile union

David Brown
David Brown

Updated: 8:42pm, 22 Feb, 2021

Why you can trust SCMP
The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP
The headquarters of the European Central Bank in Frankfurt, Germany, is seen at sunrise on February 18. Brussels and the ECB are under pressure to keep the stimulus spigots wide open, but Germany remains committed to a much more cautious road map ahead. Photo: AFP
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.