The euro area’s economies are in better shape than they look

GERMANS vote against economic reform; France’s young unemployed riot; and the European Central Bank (ECB) seems to be itching for an excuse to raise interest rates and strangle the euro area’s feeble economic growth. For sceptics, nothing has changed: the single currency zone’s economies are a miserable sight and will remain so. But if they took a careful look from another angle, they might see an altogether happier picture. (The Economist)