ERM quarterly – Issue 2, summer 2011

The EU economy continued to grow over the last quarter with more positive data in particular from core economies.Problems of sovereign debt management however persist in several eurozone Member States and negative economic news from other developed economies has tended to more than mitigate any positive momentum arising from the dynamism of the emerging market economies. Unemployment in the USA has begun to rise again while labour market participation rates are at their lowest level in 25 years. The Japanese economy once again entered a period of contraction following the March 2011 earthquake. The second issue for 2011 includes: summary; current macroeconomic; trends and prospects; overview of ERM cases April-June 2011; restructuring in the public sector; restructuring research notes; note on methodology.