In 2012, the European Single Market will celebrate its 20th anniversary. Thanks to the May 2010 Monti report and the release of the European Commission’s “Towards a Single Market Act” six months later, renewed scrutiny is being given to the market’s achievements and failings over the...

Over time, the European Union has acquired more and more of the attributes of a state and, in economic terms, it can arguably be considered a single market. Nevertheless, the differences between member states are enormous. Small, rich countries, such as Luxembourg, contrast sharply with big,...

There is evidence that a budget consolidation strategy can work with only a small and shortlived negative impact on growth. However, many countries are currently trying to consolidate at the same time as firms and consumers are deleveraging. We develop ten guidelines for consolidation during...