Russell's Sturkenboom: 18 more months for Europe's 'synchronised' upswing

After outperforming expectations for six months, the eurozone has gradually transitioned toward a stable recovery driven by private consumption. This is in line with expectations, and it is important to note there is more to this story than German economic vigor. All four of the big eurozone economies have participated, as well as many of the smaller countries and this exemplifies the power behind the tailwinds that are pushing the eurozone forward. When reflationary forces hold sway over deflationary forces, a broad-based improvement can be expected. In this case, the combination of mon...