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Diverging current account balances in the euro area
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While the current account of the euro area is broadly in balance, there are huge divergences among the member states. |
Countries
A crisis is in store for Spain's election victor
02.03.2008
By: Wolfgang Münchau
Whoever wins Sunday's Spanish elections will have to sort out a huge mess. Spanish house price are set to fall by 50% in real terms, as the country's bubble-growth model is imploding.
The cause of tax evasion are taxes
20.02.2008
By: Wolfgang Münchau
Germany's jihad against tax evaders is a macroeconomic non-event.
The death of German corporatism
18.02.2008By: Wolfgang Munchau
It was always clear that German corporatism would not survive the first half of the 21st century. What was less clear was how long this process would last and which form its destruction would take. Two important events last week greatly accelerated that process.
When tragedy turns into farce
13.02.2008
By: Wolfgang Münchau
Sarkozy is quickly becoming an irrelevant political leader.