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Taylor Swift is taking Europe by storm, prompting some pundits to envisage an economic windfall as fans flock to dozens of sold-out shows from Dublin to Vienna and beyond. It is hoped Swift, along with the Olympic Games in France and the Euro 2024 soccer championship in Germany will provide a shot in the arm for a continent that has just skirted recession for most of the past two years and badly lagged the United States. But there is one problem: “Swiftonomics” is not actually real.

She may be a megastar revolutionising the music industry, but once the excitement wears off, you will need a magnifying glass to spot the economic benefit..

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