The fiscal crises now besetting several OECD countries risk replaying the long agony of over-indebtedness in Africa. In Africa the process was directly overseen by the IMF. Its model of debt sustainability implicitly assumed that public investment was entirely unproductive: this was the implication of the absence from the model of any link between public [...]
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Diverging Europe
In its six chapters the authors of the report highlight growing divergences between member state countries in the areas of macro-economic developments, labour markets, collective bargaining, energy policies and respect for social dialogue. These divergences are in stark contrast to the original values of European integration and convergence. In its introduction the publication warns for anti-European populism with big negative impacts on the next European elections in 2014.
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