Structural reform programs often emphasize the importance of enhancing product market competition as a means of boosting productivity. Measures to that effect include trade liberalization; removal of entry barriers and market liberalization; privatizations; and an enhanced role for competition...

The Cypriot banking system has suffered a severe blow last Friday night, after the results of the Eurogroup meeting were announced. Life in the banking system is different since Saturday morning: solutions that were feasible until last Friday (e.g. bank resolutions) might not be feasible this...