In aftermath of the world financial crisis a phenomenon of the secular stagnation is widely spread among developed economies as years after the crisis their economic growth stays significantly below the expectations. In whole developed world, the secular stagnation impacts the economy of the euro area the most so empirical work of this paper seeks to investigate the causes of the secular stagnation and its scale in euro area. An empirical analysis will be conducted using a panel vector autoregression model to show the impact of investment, private consumption and real long-term and short-term interest rate on the gross domestic product for the selected group of countries consisting of the euro area core and the periphery countries. Based on the analysis, it is concluded that secular stagnation is present in the euro area, but with great distinction between the euro area core and the periphery countries. The core countries show a significant economic recovery, which is in some cases above the potential, while the periphery countries are struggling with the problem of the secular stagnation.