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Previous issues (2010-2012)

Volume 9 (2010) Issue 1 - Quarterly report on the euro area. March 2010

This special issue provides a comprehensive assessment of the impact of the crisis on external divergences in the euro area: After a decade of steady divergence, the global economic crisis has triggered a partial rebalancing of current accounts in the euro area. The narrowing of current account differences between Member States has both structural and cyclical causes and could be partially reversed with the recovery. It has so far been associated with only modest correction of past divergence in price competitiveness.

 

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