do not determine the current account balance, bilateral capital flows between member countries of the eurozone are not … Germany for being responsible for the current eurozone crisis are not supported by the data. Furthermore, current accounts are … of the euro crisis. …

to be a key indicator of the internal imbalances of the eurozone. German current account surplusses are confronted with …

This paper considers the increase in current account imbalances in euro area countries since the early 1990s. While the … euro area as a whole has remained relatively close to external balance, the current account balances of individual … of the debate on global imbalances, more attention has been given to the developments in the euro area only in the wake …

Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important … the euro area. In some countries, fiscal policy in the past decade failed to counter and sometimes aggravated these …-cutting approach to economic and financial management in the euro area is required to ensure balanced development in the future. While …

A simple econometric framework is presented linking current account balances of euro area countries to intra and extra … euro area competitiveness, cyclical positions, fiscal positions and the oil price. The framework is then used to cyclically … balances required in the euro area periphery to bring structural current account balances to levels compatible with sustainable …