Most countries commonly classified as "in transition" are still recognisably different from other countries with a similar income per capita in some respects: a larger share of their work force is in industry, they use more energy, they have a more extensive infrastructure and invest more in...

As EU leaders muddle through the Eurozone crisis, the debate about its root causes continues. CEPS Director Daniel Gros argues in this Policy Brief that the debate is important if we are to understand how to prevent future crises. In his view, external debt is the key to the turmoil in European...