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Europe: Non-Competitive Power Prices Derail Growth

Europe: Non-Competitive Power Prices Derail Growth
Power-generating wind turbines in a field near Gerdshagen, Germany, on June 22, 2012. Sean Gallup/Getty Images
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Commentary

Despite an endless chain of monetary and fiscal stimuli, the eurozone consistently disappoints in growth and job creation. One of the reasons is demographics. No monetary and public spending stimulus can offset the impact on consumption and economic growth of an aging population, as Japan can also confirm.

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