And our Union has expanded in the meantime, a sign that the euro project remains an anchor for the future of many Europeans once on the outskirts of the Continent. But the necessary institutional transition – which is re-shaping and reinforcing the architecture of monetary union – is still proceeding.
That median, however, was constant throughout the period of market turmoil, suggesting that markets remain unsure of the GDP data. It is often argued that forecasts for China’s economic growth remain anchored at too high a level. The debate is very active.