{"id":114322,"date":"2024-01-22T18:51:38","date_gmt":"2024-01-22T17:51:38","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/114322\/"},"modified":"2026-02-17T16:37:15","modified_gmt":"2026-02-17T15:37:15","slug":"ungleichgewichte-im-euro-raum","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/114322\/","title":{"rendered":"Imbalances in the Euro Area"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-114322","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"In the run-up to the economic crisis, distinctive macroeconomic imbalances emerged in the euro area. Greece, Ireland, Italy, Portugal and Spain experienced a considerable deterioration of their international competitiveness and incurred high current account deficits. By contrast, Germany, among other countries, improved its competitiveness and achieved a large current account surplus. 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