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This special issue of the Quarterly Report on the Euro Area provides a comprehensive assessment of the impact of the crisis on external divergences in the euro area. After a decade of steady divergence, the global economic crisis has triggered a partial rebalancing of current accounts in the euro area. The narrowing of current account differences between Member States has both structural and cyclical causes and could be partially reversed with the recovery. It has so far been associated with only modest correction of past divergence in price competitiveness. As a result, significant adjustment needs continue to exist and call for a comprehensive policy response tailored to the specific needs of each Member State. The crisis has underscored the need for reforms in the euro area and for co-ordination across Member States. A coordinated and ambitious policy response would ease the necessary adjustment processes but would also boost the euro-area's long-term growth prospects. Tackling these challenges is a central plank of the new Europe 2020 strategy for smart, sustainable and inclusive growth.

Online advertised vacancies slipped 29,600 to 3,927,000 in March, according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series. Following three months of large increases, totaling about 750,000 advertised vacancies, February and March have shown a small combined decline of 97,000. In February, the latest month of unemployment numbers, there were 10.9 million, or 3.76 unemployed for every online advertised vacancy.

The euro area (EA16) seasonally-adjusted unemployment rate was 10.0% in February 2010, compared with 9.9% in January. It was 8.8% in February 2009. The EU27 unemployment rate was 9.6% in February 2010, compared with 9.5% in January. It was 8.3% in February 2009. For the euro area this is the highest rate since August 1998 and for the EU27 since the start of the series in January 2000.

South East Europe (SEE) needs to attract more and better inward investment to pull out of the economic downturn and build the basis for long-term sustainable growth. Achieving this will require further major policy reforms, according to a new OECD analysis.

The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.93 percent, up thirteen basis points from 4.80 percent compared to this same time last week. The 30-year fixed mortgage spiked late Wednesday at 4.98 percent, before leveling off just above 4.90 percent over the weekend.

Marakon, a Charles River Associates, company, released its research on the banking industry. In the report, “How Healthy Are The Banks? Time To Focus on Value,” Marakon analyzes the banking system and suggests near-term strategic priorities and fundamental changes that will help banks deliver sustainable value growth in 2010 and beyond.

Consumer prices in the OECD area rose by 1.9% in the year to February 2010, down from 2.1% in January. This small decrease in inflation rates mainly reflected the slowing down of energy prices, which increased by 8.4% in February, compared with 10.6% in January.

The Conference Board Consumer Confidence Index®, which had decreased in February, rebounded in March. The Index now stands at 52.5 (1985=100), up from 46.4 in February. The Present Situation Index increased to 26.0 from 21.7. The Expectations Index improved to 70.2 from 62.9 last month.

The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis.

The global economic recovery has run out of steam, reveals ACCA's (the Association of Chartered Certified Accountants) latest Global Economic Conditions survey, with confidence taking a hit and a return to solid economic growth moving further away.