Disinfo: Southern European countries were afflicted by adopting the Euro

Summary

When Southern European countries adopted the Euro as unified currency instead of their own currency, they lost the most important banking tool that could help them achieve constant economic growth and help overcome economic crises they might face.

Disproof

A recurring pro-Kremlin narrative that seeks to discredit the EU, claiming that Euro is responsible for the economic downfall of "Southern" European countries.

The Eurozone shows a GDP growth of 2.4% as of 2017 according to the World Bank and real GDP growth of 1.3% in accordance with IMF data. In April 2019, the International Monetary Fund indicates the real GDP growth of the countries who have recently adopted the Euro the following way: 3.2 % for Estonia, 3.3% for Latvia, 2.9% for Lithuania and 4.1% for Slovakia. Eurostat data also reveals predominately stable GDP growth in Estonia, Latvia, Lithuania and Slovakia since the last global crisis of 2008.

The reasons for the economic problems listed by the IMF in their recent report show no connection to the euro adoption in "Southern" countries such as Italy.

publication/media

  • Reported in: Issue 193
  • DATE OF PUBLICATION: 08/04/2020
  • Language/target audience: Arabic
  • Country: EU, Italy
  • Keywords: euro, Euro-scepticism, EU disintegration, European Union, Economic difficulties

Disclaimer

Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

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Disproof

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Disproof

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Disproof

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