Based on a new database of bilateral financial flows among euro area countries and their major world partners, this paper explores the role of financial links in the accumulation and then adjustment of current account imbalances in the euro area. The data show that the geography of financial...

This paper provides a rationale on why investing in research and innovation (R&I) matters for Europe. It describes the potential of R&I to strengthen EU's competitiveness, support a green and sustainable future, and build a fair European society. EU's R&I performance is presented, of which the...

The Europe 2020 presents an ambitious and comprehensive strategy to guide the EU out of the economic crisis, to ensure macroeconomic stability and to put in place an ambitious structural reform agenda. An essential part of this strategy is the introduction of reforms with a medium- to longterm...