Recent growth in the euro area has tracked the experience of much of Europe in the 1930s all too closely. Unless policies change, this stagnation is likely to persist. In some ways, the euro area’s prospects are more challenging than the parallel with the Great Depression suggests. If only things were as bad as in the 1930s -- how’s that for a thought to put matters in perspective?
Following is the text of an advertisement by the U.K. Treasury seeking a new governor for the Bank of England. The ad will be placed in the Economist magazine on Sept. 14 and on the government’s public appointments website.