Ramon Xifré, Friday, September 12, 2014 - 00:00
Raphael Auer, Friday, April 11, 2014 - 00:00
Some view the improvements in current accounts for Greece, Italy, Portugal, and Spain as short-lived – the result of a temporary compression of import demand that is likely to be reversed as the recession eases. This column argues the contrary, based on the fact that their improving trade balances reflect better export performance. This development points toward a fundamental stabilisation of the competitiveness of these economies.