Summary: Euro-zone GDP contracts in December quarter; result better than expected but annual rate falls further into negative territory; Europe lagging global recovery cycle; “double-dip” likely. Euro-zone GDP growth has been lacklustre at best since the GFC and the European debt crisis of 2011/12. Despite exceptionally loose monetary policy, euro-zone GDP growth averaged less than 0.5% per quarter from the beginning of 2013 to the end of 2019. In...