2013 will be the year of an EU-US free trade agreement, or at least serious negotiations towards that goal. Although this possibility has been raised many times before, only to stall in the face of tough regulatory or subsidy issues, the economic stakes are higher and the political obstacles are lower next year. Both the EU and the US desperately need faster economic growth. Monetary policy is essentially exhausted; fiscal policy is set to tighten. Continue reading »
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