The anaemic growth of the European Union/euro area derives from its economic paradigms. The principle 'one size fits all' behind European Central Bank policy activates centrifugal forces. Diverging trends in unit labour costs, external competitiveness and external balances follow. German policy...

The Central, East and Southeast European (CESEE) economies will experience on average a minor rebound of economic growth to 1% in 2010 which will speed up to 2.5% in 2011 and 3.5% in 2012. GDP growth will be higher in the CIS countries and in Turkey, about average in the Central European NMS and...