A flickering light at the end of the long, dark tunnel? After suffering the deepest economic decline since World War II because of the pandemic, the latest forecasts just released by the European Commission, the European Union's executive body, predict a solid rebound for the "old continent".

Germany, the EU's biggest economy, is predicted to enjoy 3.2 per cent economic growth this year, largely offsetting the 5 per cent decline of last year. And France may expect growth of 5.5 per cent by the end of this year, an unprecedented figure for a mature, developed economy.