Economics

Europe’s South Dares to Dream of New Destiny After Lost Decades

  • EU recovery fund can rewrite prevailing narratives of malaise
  • Biggest near-term risk is coronavirus variants hitting tourism
Workers remove debris from a housing estate demolished last year in Naples.Photographer: Alessio Paduano/Bloomberg
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Europe’s southern countries can now claim the brightest collective outlook since the creation of the euro -- once the final hurdles of the coronavirus are overcome -- in a dramatic turnaround after two decades of malaise and crisis.