This third issue of the ERM quarterly includes: current macroeconomic trends from the World Economic Outlook, published in September 2006 by the International Monetary Fund (IMF); the overall ERM statistics for the third quarter 2006; offshoring from eastern Europe during the last two years, in...

This first issue for 2008 includes: an overview of current macroeconomic trends and prospects; an overview of the ERM statistics for the first quarter of 2008; a focus on restructuring in the financial services sector; the closure of Nokia in Bochum; and restructuring in Cyprus and Malta.

Nearly two years after the technical end of the ‘Great Recession’, there are increasingly divergent patterns of recovery across the EU. Member States in the German – central Europe – Baltic axis are enjoying strong growth and improving labour markets while the debt-laden ‘periphery’...