Current Size: 68%
Eurozone policy-makers are complacent about the risks of low inflation. If the euro is to survive, inflation will need to rise significantly, especially in Germany.
Despite the overwhelming weight of evidence, both empirical and theoretical, many policy-makers will continue to trot out Margaret Thatcher's favourite line: there is no alternative.
Many economists have been accused of being too gloomy about the euro because they underestimate the degree of political commitment that eurozone countries have made to the euro.
Leaving the EU would not resolve Britain's economic difficulties, which are mostly home-grown. However, it could turn Britain into a more closed economy.
The EU and the US would benefit from freeing up transatlantic commerce. To succeed, they must agree some rules of engagement and stick to them.
The British have the least living space, highest office rents and most congested infrastructure in the EU-15. A rigged market for land is to blame.
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.