European Commission, (2016), “Joint Report on Health Care and Long-Term Care Systems & Fiscal Sustainability”, European Commission Publications, 7 October This report, prepared by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs and the Economic Policy Committee (Ageing Working Group), presents policy challenges for health care and long term care, and options on how to contain spending pressures through efficiency gains, in order to ensure fiscally sustainable …Read More

European Commission, (2016), “European Business Cycle Indicators – 3rd Quarter 2016”, European Commission Publications, 7 October Both the euro-area and EU Economic Sentiment Indicators (ESI) moved broadly sideways in the third quarter of 2016. Standing at 104.9 (euro area) and 105.6 (EU) points respectively, both indicators remain comfortably above their longterm average of 100. From a sectoral perspective, the euro area and the EU witnessed a flat evolution of consumer …Read More

International Monetary Fund, (2016), “Fiscal Monitor: Debt—Use It Wisely”, IMF, Οctober At 225 percent of world GDP, the global debt of the nonfinancial sector—comprising the general government, households, and nonfinancial firms—is currently at an all-time high. Two-thirds, amounting to about $100 trillion, consists of liabilities of the private sector which, as documented in an extensive literature, can carry great risks when they reach excessive levels. However, there is considerable heterogeneity, …Read More

International Monetary Fund, (2016), “World Economic Outlook: Subdued Demand: Symptoms and Remedies”, IMF, October Global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. The forecast, revised down by 0.1 percentage point for 2016 and 2017 relative to April, reflects a more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union (Brexit) and weaker-than-expected …Read More