For the first time in 4 years, the economic growth of the EU and of the eurozone outpaced the EU in the first quarter of 2015. The eurozone grew by 0.4%, while the US by only 0.1%. The problem in the eurozone is Greece, which slipped back into recession, and also the UK, which underperformed (0.3%). The EC criticized the UK for a high budget deficit of 5.2% of GDP, well above the 3% threshold. However, since the UK is not in the euro, there are no sanctions. There are good signs about France and Italy, however Germany, the cornerstone of the eurozone economy, seems to be slowing down somewhat.

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