• user warning: Table './cer_staging/cache_filter' is marked as crashed and should be repaired query: SELECT data, created, headers, expire, serialized FROM cache_filter WHERE cid = '3:6093ed6939ffc25542c8f9c3467e12f9' in /home/cer/staging/includes/cache.inc on line 27.
  • user warning: Table './cer_staging/cache_filter' is marked as crashed and should be repaired query: UPDATE cache_filter SET data = '<p dir=\"LTR\" align=\"LEFT\">Many people lazily assume that the eurozone is now split into a strong, prosperous core and a weak, depressed periphery. Southern Europe and Ireland – the periphery – face exceptional economic weakness as they tighten fiscal policy and undergo a painful period of internal devaluation in a drive to reduce their costs relative to the core. By contrast, Germany, Austria, the Netherlands and Finland – the core – are assumed to be structurally robust economies, with sound public finances, competitive export industries, and good economic prospects. The reality is different and more worrying.</p>', created = 1503509748, expire = 1503596148, headers = '', serialized = 0 WHERE cid = '3:6093ed6939ffc25542c8f9c3467e12f9' in /home/cer/staging/includes/cache.inc on line 112.
Eurozone: Trouble in the core?

Eurozone: Trouble in the core?

Written by Simon Tilford, 26 November 2012

Many people lazily assume that the eurozone is now split into a strong, prosperous core and a weak, depressed periphery. Southern Europe and Ireland – the periphery – face exceptional economic weakness as they tighten fiscal policy and undergo a painful period of internal devaluation in a drive to reduce their costs relative to the core. By contrast, Germany, Austria, the Netherlands and Finland – the core – are assumed to be structurally robust economies, with sound public finances, competitive export industries, and good economic prospects. The reality is different and more worrying.