Phil Suttle

speaker
557 appearances 3 recordings 1 series first heard Oct 2024 last heard Jul 2025

Phil Suttle’s voice in public audio — every appearance, attributed to the second.

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But I think Europe's generally doing a bit better than even I well, certainly I thought.
Um and I think two things are going on here.
One is um that
I hate to say it, but the supply side of the European economy has started working much better.
You know, some of these rigidities that we all love to talk about in Europe, they're still very much in place.
And the Draghi report and these other things, you know, keep highlighting it.
But I think Europe just works a bit better than it used to.
The best example of that is the unemployment rate across the region, which is a historic low.
Um, even though, you know, we've got all these economic worries.
Um, so I think Europe's improved from a supply side perspective.
Still got a lot of work to do.
But the other surprise is the change in conditions in Germany.
So, you know, we we had an election at the uh start of the year and the previous government fell 'cause it couldn't get fiscal stimulus through.
And the opposition was sitting there saying
You know, terrible idea, physical stimulus, we'd never do it.
Austerity is the way.
And then as soon as they win.
Um Mers, the new Chancellor, uses the excuse of a mix of the um you know, the Ukraine tensions with the US and US tariff policy, uses that as as an excuse to do a big 180-degree turn.
And so we've actually got the very fiscal policy in Europe that we've been pining for for a number of years, which is Germany leading some expansion.
while others are a little more cautionary, like like France.
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