In its World Economic Outlook for 2013, the International Monetary Fund predicts that the Eurozone will remain at the "epicentre" of the crisis, with a decline of 0.2 per cent of GDP.

The international organisation, which will prepare its spring meeting this week, believes that the US and emerging countries have overcome the crisis, while Europe continues to be hampered by major obstacles: in particular, low liquidity and the slow progress towards a banking union.

El País points out that the figure forecast for growth in Japan is also low, however, there is a "significant difference" with regard to Europe: “the Japanese government has just launched an aggressive plan for growth," while austerity continues "to call the tune" in Europe.