ANGANA BANERJI International Monetary Fund LORENZO BINI SMAGHI Member, Executive Board, ECB HERBERT BRUCKER Professor of Economics, University of Bamberg; Head, Department for International Comparisons and European Integration at the Institute for Employment Research (IAB), Nuremberg, Germany JUHA KAHKONEN Senior Advisor, European Department, International Monetary Fund SARAH LEIN Research and Teaching assistant, Chair of Applied Macroeconomics, ETH Zurich, Switzerland MIGUEL LEON-LEDESMA Reader in Economics, Department of Economics, University of Kent, UK MAGDALENA MORGESE BORYS Adjunct Professor, American University of Rome, Italy CAROLIN NERLICH Senior Economist, Directorate General Economics, ECB EVA KATALIN POLGAR Directorate General International and European Relations, ECB JURGEN STARK Honorary Professor, University of Tubingen; Member, Executive Board, ECB ISTVAN P. SZEKELY Director, Economic Studies and Research, Directorate General for Economic and Financial Affairs of the European Commission MAX WATSON Fellow, Wolfson College, Oxford, UK; Associate Fellow, Chatham House (Royal Institute of International Affairs), UK ANDREI ZLATE Boston College, USA