Europe as world champion in structural reforms

Every year the World Bank ranks all countries in the world according to how easy or difficult it is to do business in each country. Number 1 is the most competitive country in the world, and country number 190 is the least competitive.

Since the European crisis broke out in 2010 European countries have improved significantly in the global ranking. For example, Spain was ranked number 62 in the 2010 survey and number 32 in the 2017 survey. Greece and Portugal have also cut their rankings in half over the same period. Germany and France have also improved.

The good news is that the improvement across European countries is significant. But more work is still needed to make sure all European countries can compete in the global economy.

The bottom line is that the crisis in Europe resulted in tough structural reforms and Europe is now reaping the benefits in the form of a solid cyclical upswing but more work is needed.

Deutsche Bank