The euro area has resumed growth, albeit in a somewhat hesitant fashion and with noticeable differences in performance by country. Some quite pronounced adjustments to cost structures are occurring in some of the so-called “peripheral” countries, as needed under the single currency area arrangement.
It is no simple feat, as our current path would lead to an increase of more than 3 degrees. And we have only about a decade to take the right bold actions to meet the 1.5 degree target. There is no single tool that would enable mitigation and adaptation to climate change.