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November 21, 2012 7:01 pm
The ranking of European finance ministers is based on three measures: political ability, economic performance and credibility in the markets.
To judge the ministers on political ability, we asked seven leading European economists to rank them on their understanding of the challenges and quality of proposals; their global influence; and their success in implementing policies at home.
Economic performance was based on seven measures: gross domestic product growth, budget deficit and government debt for 2012; economic recovery – output compared with the pre-crisis peak; change in debt since 2009; change in unemployment from 2009 to 2013; and, finally, the deviation of the current account from balance.
Market credibility was judged by looking at the yield on benchmark government bonds and how it has changed in the past year. Marks for these categories were then combined and weighted to produce the overall rank.
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