Criticism of Germany’s fiscal policy is justified,but the excess savings problem is bigger than fiscal policy The anomaly is not negative interest rates but long-term interest rates that are lower than growth rates The European Union's two most serious institutional problems The segmentation of financial markets in the euro zone: A double problem What"traps"if labour market flexibility is increased? China:PBOC announced a 50bp RRR cut Greater China China:new home prices rose 0.3%m/m in January Emerging Markets Strategy Dashboards An introduction to the interest rate corrido