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Economic developments will favor the next captains of Europe. Europe is recovering, and its economic growth rate will grow, in contrast with the United States, where growth is declining. Economic forecasts of both the European Commission and the United Nations are optimistic. Consumers and business people in Europe are more optimistic than they have been since 1999. One piece of good news is that things aren merely getting better in the countries recently admitted into the EU; that is, the emerging nations of Central and Eastern Europe. Instead, growth is focused on the core of the euro zone itself. Germany, which seemed to be mired in total stagnation, appears to have revved up its growth engines. For 2006 as a whole, the estimated growth rate of the euro zone is 2.6%; the future for the EU as a whole [including countries outside the euro zone] is somewhat higher because of the emergence of the new member states from Central and Eastern Europe. The growth rate for the euro zone is twice as high as it was in 2005, or a half point higher than it was in forecasts made six months ago.
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