There has been much discussion of the Newly Industrializing Countries (NICs) in recent years and various studies of their impact have been made. Much of the concern about NICs in the industrialized countries is however based on what they portend for the future rather than their present impact....

The joint Intereconomics/CEPS conference focused on income convergence among EU countries and within specific countries like Germany and Italy. I would like to first caution about overinterpreting these results and then look at other divergences within the Eurozone, which I regard as much more...