Prospects 2020

Europe

Much of the region will experience political instability and economic slowdown

Internal policy matters threaten to compromise the EU’s ability to respond to global challenges

The foreign policies of Spain, Italy and Germany will be weakened by continued domestic tensions

Growth will slow in 2020 but will still outpace the EU average

Brexit, economic uncertainty and the future integrity of the United Kingdom will be pressing issues in 2020

The global trade slowdown and idiosyncratic factors in member states threaten to weaken euro-area growth further

The US-China trade conflict and fears for WTO functionality are disrupting multilateralism, but regional deals progress