So it is all the more crucial for more than just its citizens suffering from years of high unemployment and feeble or no growth that Europe is able to pick up some of the slack.
Eurogroup finance ministers will meet on Monday to discuss once more Greece's sclerotic progress in implementing economic reforms in exchange for bailout funds as it gets dangerously close to running out of cash.
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But policymakers have already played down hopes of major progress early next week, which leaves the spotlight on the first read of how quickly the euro zone and its component economies performed at the start of the year.
For the first time in many years, it seems clear that the euro zone performed not only better, but far better than the U.S., which almost certainly suffered a mild economic contraction in January-March.
Euro zone growth is forecast at 0.5 percent, according to a Reuters poll of economists, which would even put it ahead of Britain, which consistently has been leading the biggest economies in Europe, not only in growth but employment.
Given that the European Central Bank only just began in March a 60 billion euro-a-month bond purchase program of mainly sovereign debt, such growth data certainly would raise even louder cries that perhaps stimulus is not even required.
Germany, Europe's largest economy and the one that was most opposed to ECB bond purchases, is forecast to have grown 0.5 percent. France, which has been the laggard among the big economies, is expected to grow 0.4 percent.
Even Italy is expected to chalk up 0.2 percent growth.
One thing that analysts seem in agreement on is that apart from Greece's seemingly endless fiscal troubles, many positive forces have lined up behind the euro zone in addition to the launch of massive amounts of monetary stimulus.
"This recovery is supported by five underlying drivers: (1) stronger external demand; (2) easier domestic financial conditions; (3) an end to fiscal austerity; (4) a weaker euro exchange rate; and (5) lower oil prices," wrote Huw Pill at Goldman Sachs.