Current Size: 68%
The British government's attempt to rebalance the UK economy has failed. In 2012, the deficit on the country's current account (the broadest measure of foreign trade) was larger than in any year since 1990.
The British government's drive to rebalance the UK economy has foundered on falling exports to the EU; UK exports to the rest of the world are booming.
The damage done to Europe's growth potential by very low investment and mass unemployment is likely to offset the benefits of structural reforms.
Prediction is not destiny. Without vigorous reforms and stronger institutions, many Asian economies will struggle to transform themselves from middle income to wealthy countries.
Small budget deficits are no guarantee of sustainable public finances: Europe needs higher inflation and growth if it is to stem the rise in public debt.
The CER invited leading economists and policy-makers to debate the implications of fiscal austerity for economic, political and monetary stability.
Euro members must integrate more to save the single currency. But will a two-tier EU destroy the single market and lose the support of the people?