Euroland's biggest winners and losers

Article Abstract:

European monetary union (Emu) will make cross-border investments easier by taking away currency risks, and could lead to greater regional concentration. United Kingdom services companies which operate in the European market are likely to benefit, and the Irish economy is benefiting from inward investment. Diageo, a beverage company, should benefit from a consumer boom in Spain, though price transparency could be a problem since it charges more for a particular brand of whisky in the UK than in Spain. The impact of Emu is likely to become more apparent over the longer term.

Western Europe, Monetary unions

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Uncle Sam's vanishing budget deficit

Article Abstract:

The US budget deficit may be disappearing which would reduce both nominal and real yields for government bonds and help stock prices. Job creation has meant that tax revenues have risen and welfare payments have fallen since 1992 when the budget deficit rose to its highest. The government has also imposed stricter controls on spending. Tax rates on higher incomes are higher than rates on average incomes, and higher incomes have increased by more than incomes as a whole, so inequality has aided the reduction of the budget deficit.

Legislative Bodies, Budget, United States, Statistics, United States economic conditions, Budget deficits, Tax revenue estimating

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