In addition to the political crises experienced by France and Germany (the two largest countries in the euro zone), the economic weakness of certain countries in the euro zone is another parameter to take into account. If the growth rate in the euro zone increases at third quarter 2024 of 0,4% compared to the previous quarter, it is not at the same level between the large countries of the euro zone: +0.1% in the third quarter in Germany which is experiencing an industrial slowdown weighing on its European partners but +0.8% in Spain, +0.4% in France and 0% in Italy.
This economic divergence between countries makes more difficult to set a common interest rate between Germany which could benefit from a more powerful effect and Spain which could risk a form of “runaway” economic a little too marked. At the same time, the main monetary indicator, the annual inflation rateEast, in November 2024reassembled to 2,3% and zone euroafter 2% in October and 1.7% in September.
At its last meeting, on October 17, the ECB reduced its main rate, the deposit facility, to 3.25%.
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