Some estimates suggest that we are consistently underestimating the rate of US inflation. While I am largely agnostic on this particular issue, I strongly believe that we need a debate about how we measure prices. (Note to readers: The guestbook entries are working again.)

Individual Euro Area Countries

For articles concerning specific countries/regions, please select from the menu on the left.

Diverging current account balances in the euro area

While the current account of the euro area is broadly in balance, there are huge divergences among the member states.

Countries

Watch out for political change in Germany

24.10.2007

By: Wolfgang Munchau

The SPD is shifting to the Left. It is not good for the country, but it is correct tactical decision. I would no longer rule out an SPD-led administration after the next elections.

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Some thougths about the future of the euro

18.10.2007

By: Susanne Mundschenk and Wolfgang Münchau

Forget Italy, or Spain. The real danger to the long-term sustainability of the euro are the continued ideological differences between France and Germany, which have widened since the start of the EMU in 1999.

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Europe's decade of economic reform draws to a close

08.10.2007

By: Wolfgang Münchau

The SPD's specular U-turn is a sign that that the Hartz IV welfare reforms have failed. Europe's electorates have regrettably, but logically, concluded that parties advocating economic reforms cannot be trusted.

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The end of the Irish boom

28.09.2007

By: Marc Coleman

The Irish housing market is headed for a big downturn. This was expected to happen at some point, but it is becoming political problem for a government that has promised too much.

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