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Michael Scheinos / Flickr cc

Trump has taken the spotlight with his hefty promises to bolster the U.S. growth rate, but as the Financial Times points out, it's the eurozone's economy that we should be looking at. Figures for business sentiment, growth rates and unemployment for the eurozone have been increasingly robust in 2017, thanks to confidence in the markets despite the uncertainty surrounding Brexit.

FT notes that the eurozone economy has had 14 consecutive quarters of growth, the unemployment rate has returned to single digits, and economic sentiment is the strongest its been in 6 years — which diverts from common criticism that Europe's economy is underperforming.

I certainly continue to be amazed by the skewed negativism towards Europe... [such views] are mostly based on what seems like superficial attention to the data — or, maybe, to 'alternative facts.'— Erik Nielsen, chief economist of UniCredit

Why is this so surprising? Officials have been cautious of publicizing the strength of the economy, as highlighting the improved prospects could lead to increased pressure on certain countries — particularly in Germany — to tighten monetary policy. By staying quiet, the European Central Bank can continue to let momentum build in the economy to boost inflation and reduce unemployment.

Go deeper

25 mins ago - World

Iran's nuclear dilemma: Ramp up now or wait for Biden

Illustration: Annelise Capossela/Axios

The world is waiting to see whether Iran will strike back at Israel or the U.S. over the assassination of Mohsen Fakhrizadeh, the architect of Iran's military nuclear program.

Why it matters: Senior Iranian officials have stressed that Iran will take revenge against the perpetrators, but also respond by continuing Fakhrizadeh’s legacy — the nuclear program. The key question is whether Iran will accelerate that work now, or wait to see what President-elect Biden puts on the table.

Updated 1 hour ago - Health

U.K. first nation to clear Pfizer coronavirus vaccine for mass rollout

A health care worker during the phase 3 COVID-19 vaccine trial by Pfizer and BioNTech in Ankara, Turkey, in October. Photo: Dogukan Keskinkilic/Anadolu Agency via Getty Images

The United Kingdom's government announced Wednesday it's approved Pfizer-BioNTech's COVID-19 vaccine, which "will be made available across the U.K. from next week."

Why it matters: The U.K. has beaten the U.S. to become the first Western country to give emergency approval for a vaccine that's found to be 95% effective with no serious side effects against a virus that's killed nearly 1.5 million people globally.

3 hours ago - World

Biden says he won't immediately remove U.S. tariffs on China

President-elect Joe Biden during an event in Wilmington, Delaware, on Tuesday. Photo: Alex Wong/Getty Images

President Trump's 25% tariffs imposed on China under the phase one trade deal will remain in place at the start of the new administration, President-elect Biden said in an interview with the New York Times published early Wednesday.

Details: "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. He plans to conduct a full review of the current U.S. policy on China and speak with key allies in Asia and Europe to "develop a coherent strategy," he said.