Much of the discussion about how to impose more convergence among member states of the eurozone has focused on what national governments should do to avoid divergent developments in a number of macroeconomic variables, e.g. competitiveness or current account imbalances. Without denying that...

The analysis in this Commentary provides strong evidence showing that the burden of the adjustments to the imbalances in the eurozone between the surplus and the deficit countries is borne almost exclusively by the deficit countries in the periphery. And although the European Commission has now...

Globalisation is more an opportunity than a menace and the European social model is not doomed. Globalisation is not a zero-sum game but there are undeniably adverse consequences. As a phenomenon of the late 20th and early 21st centuries, there can be little doubt that globalisation is something...