Estonia is widely regarded as a paramount example for a successful transformation of a socialist economic system to a functioning market economy. Against the backdrop of this positive image which contrasts strongly with the crisis scenarios in Southern Europe the remaining problems of Estonia...

In view of the Russian annexation of Crimea and its ongoing efforts to destabilise Ukraine, political decision-makers in the EU and the US are considering economic sanctions against Russia. The article analyses whether the German economy would be affected by restrictions on trade and investment...

Cyprus appeared to be a South European success story until the beginning of the economic and financial crisis in 2008. But in early 2013, the country was at the edge of bankruptcy, its leading banks were illiquid, its economy was shrinking and unemployment was rising. Against this background,...

Current economic developments in Portugal do not portend well. The Portuguese GDP is shrinking and the growth forecast for 2012 is gloomy - in the EU only the forecast for Greece is even worse (Figure 1). Moreover, Portugal is now having to pay double-digit interest rates on its bonds, its debt...

Current economic developments in Portugal do not portend well. The Portuguese GDP is shrinking and the growth forecast for 2012 is gloomy - in the EU only the forecast for Greece is even worse (Figure 1). Moreover, Portugal is now having to pay double-digit interest rates on its bonds, its debt...