In the fourth quarter of 2021, the EU seasonally adjusted current account of the balance of payments recorded a surplus of €49.6 billion (1.3% of GDP), down from a surplus of €69.6 billion (1.9% of GDP) in the third quarter of 2021 and down from a surplus of €125.4 billion (3.6% of GDP) in the fourth quarter of 2020
Corruption
Politico: Big business circles EU’s consumer protections
An industry-friendly approach to consumer protection could make its way into EU legislation after years of lobbying. Read here
EU politics
Brad Setser: Tax Avoidance and the Irish Balance of Payments
An excellent analysis: “Profit shifting by multinational corporations doesn’t distort Ireland’s balance of payments; it constitutes Ireland’s balance of payments.” Read here
Economics
Martin Schirdewan – Europe Fails Another Test of Solidarity
Last night’s EU Council meeting once again failed to agree a rescue package large enough to meet the scale of the coronavirus crisis – and hung Europe’s peripheral states out to dry. Read here
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