GettyEmmanuel Macron and Angela Merkel are to blame for the 'ongoing slowdown in the Eurozone'
Lorenzo Codogno, the former chief economist and director general at the Treasury Department of the Italian Ministry of Economy and Finance, made the claims against the leaders of France and Germany after a new estimate by Eurostat, the Directorate-General of the European Commission came to light.
Mr Codogno stated GDP growth for the bloc had “slowed to 0.4 per cent” in the first quarter of 2018 and that Germany and France were responsible.
He said: “GDP growth slowed to 0.4 per cent in the first quarter of 2018.
“According to the preliminary flash estimate by Eurostat, Eurozone GDP was up 0.4 per cent quarter over quarter and 2.5 per cent year over year in the first quarter of 2018.iPhone transfer software
“The slowdown comes from Germany and France.”
The two countries are the largest economies in the trade bloc and are Brussels’ most influential member states.
Mr Codogno continued: “We do not yet know the figures from Germany, they will be released on May 15, but GDP growth was likely close to 0.3-0.4 per cent quarter over quarter in the first quarter of 2018 (from 0.6 per cent quarter over quarter in the fourth quarter of 2017).
“The estimate for the French economy was released on 27 April.