Around the world, the policy conversation is turning to issues of inequality and inclusion. And rightly so: liberalisation and reform are not ends in themselves. The focus must be on the end goal, the welfare of the population. If a specific reform doesn't deliver that, it ought to be modified, whether through explicit safety nets or other means.
In Europe, there are concerns that, in 2011, the effects of economic stimulus measures could wane with the implementation of fiscal austerity programs. In addition, concerns over the sovereign risk of some European countries might have adverse effects on economic activity through a rise in long-term interest rates and a deterioration in market sentiment.