Economic performance and competitiveness in Europe: recent developments. After a long crisis of nearly five years, Europe, and in particular the eurozone, are facing a double slowdown of growth and productivity. This has had a very strong impact on employment. This double slowdown is also affecting the European export capacity. The OECD is working hard to support the efforts of European Governments to promote far-reaching structural reforms. Renew itself or die, the economy faces this dilemma.