Monetary Union Promotes Growth in the EU. Medium-term Forecast for the World Economy until 2001

Since the beginning of the 1990s, the USA has – for the first time since the end of World War II – held the "leadership" in the growth dynamic of the "Triad": between 1991 and 1996, the USA's GDP grew at a yearly rate of 2.9 percent – almost twice as quickly as Europe's (+1.6 percent). Economic growth over this period was weakest in the country which had shown the greatest economic vitality over the long-term: total output in Japan grew at a rate of only 1.2 percent p.a. between 1991 and 1996.