Volume 48 · January/February 2013 · Number 1

Editorial

• Banking Supervision in the Eurozone

Forum

• Austerity Measures in Crisis Countries – Results and Impact on Mid-term Development

Articles

• Potential Economic Variables and Actual Economic Policies in Europe

• SMEs in Services Trade – A GATS Perspective

• Fiscal Divergence, Current Account Divergence and TARGET2 Imbalances in the EMU

• Convergence in the Spanish and Portuguese NUTS 3 Regions: An Exploratory Spatial Approach

Letter from America

• The Fiscal Cliff Crisis and the Real Economic Crisis in the United States