The two main surprises were the slowdown in emerging markets, which was slightly sharper and more widespread than anticipated, and Europe’s embrace of some truly remarkable reforms – though still far short of what is needed.
Las dos principales sorpresas fueron la desaceleración en los mercados emergentes, ligeramente más profunda y extendida que lo previsto, y la adopción europea de algunas reformas verdaderamente excepcionales –aunque no suficientes.