EDITORIAL

Jörg Rocholl:
The True Significance of the EFSF Downgrade

FORUM

Stefano Scarpetta, Anne Sonnet, Ilias Livanos, Imanol Núñez, W. Craig Riddell, Xueda Song, Ilaria Maselli:
Challenges Facing European Labour Markets: Is a Skill Upgrade the Appropriate Instrument?

ARTICLES

Klaus F. Zimmermann, Mathias Dolls, Andreas Peichl:
A Challenge for the G20: Global Debt Brakes and Transnational Fiscal Supervisory Councils

Hanno Beck, Aloys Prinz:
The Trilemma of a Monetary Union: Another Impossible Trinity

Bas van Aarle, Marcus Kappler:
Economic Sentiment Shocks and Fluctuations in Economic Activity in the Euro Area and the USA

Julien Hanoteau:
A Mediterranean Agreement for Tuna Conservation: The Political Benefit of an International ITQ Scheme

ECONOMIC TRENDS

Gianluca Cafiso:
Debt Developments and Fiscal Adjustment in the EU