Worries abound that fixes for crisis will under-deliver
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In fact, said Philip Whyte of the Centre for European Reform, "the word competitiveness seems to have become a substitute for that of imbalance." It is the eurozone's imbalances — the big current-account surpluses run by Germany and the other core economies and the big deficits being run by the peripheral economies — that he sees at the root of the eurozone's problems.