No miracles in southern Eurozone without resource reallocation

Ramon Xifré 12 September 2014

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The most acute phase of the Global Crisis appears to be over in the Eurozone. Prospects for growth are still moderate but no recession is foreseen in the short-run and sovereign debt markets seem to be getting out of the turbulences. The prevailing view is that the countries that have been under the Economic Adjustment Programmes (EAP) have drastically improved their conditions with the recovery extending to large, non-EAP but ‘vulnerable’ member states like Spain, Italy, and France.

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Topics:  Europe's nations and regions Global crisis Productivity and Innovation

Tags:  Eurozone crisis, firm size, current account rebalancing, structural reforms, industrial policy

The increasing competitiveness of the southern Eurozone

Raphael Auer 11 April 2014

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Current-account (CA) rebalancing is a necessary step for the Southern EZ countries to overcome their debt and external balance of payments crises.1 Figure 1 documents the impressive speed and magnitude of the southern EZ’s CA rebalancing.

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Topics:  Europe's nations and regions International finance

Tags:  eurozone, Eurozone crisis, current account rebalancing