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...

Recent data has cast doubt on the strength of the recovery. In its October 2014 World Economic Outlook, the IMF predicts a euro zone growth rate of 0.8% in 2014 (down from a forecast growth rate of 1.1% in April 2014). Factors contributing to the poorer outlook are slowdowns in the US, Japan and...