Rewards of austerity: As a consequence of economic contraction and falling imports in the troubled Eurozone countries, their foreign trade deficits are falling. In the third quarter the five known as the PIIGS together recorded the first surplus since 1999. The...
Norway, like its Nordic cousins, is a welfare state with high living standards, abundant welfare benefits… and very high taxes. But it’s the richest member of the Sauna Club, thanks to its wealth of offshore oil and natural gas. That bounty has been used wisely, with...
