ly improving economy, and a deleveraging banking system. Europe Area GDP growth was modestly positive in 2014 and is forecast to grow 1.5% in 2015. Euro Area GDP Growth' 1.6% 3.5% It 0.9% -0.8% 2011 2012 2013 2014 2013F However, GDP growth rates by country vary. Growth in the UK and Germany reflect a modest