Growth and unemployment in the Eurozone: what’s really happening?

To the surprise of many, the EMU crisis has actually forced reform (as measured by the OECD’s Reform index) in countries where that had seemed very difficult or impossible before: Greece and Spain being the key examples here. By contrast, in countries outside the EMU crisis there has been little or no reform, with this being particularly marked in North-West Europe, where the crisis was least destructive.