This gives the Colorados a structural advantage: a quarter of the population are party members.

ECONOMIST: The interim president enacts reforms

In short, Hungary's politicians are doing what they do best: squabbling for short-term advantage, while leaving structural problems untouched.

ECONOMIST: Hungary may soon be overtaken by its neighbours

Yet, governments should still take advantage of the recovery to complete structural reforms in the financial and corporate sectors.

ECONOMIST: East Asia's economies

Much now depends on whether the new governments in the crisis countries take advantage of any respite offered by the ECB and IMF to push ahead with structural reforms to restore competitiveness and create the conditions for growth.

WSJ: 2012: Taking a Look on Bright Side

Mr Obama has the dubious advantage of trying to cap pay amid a severe economic downturn, rising unemployment and structural changes in finance that will reduce pay anyway.

ECONOMIST: Will Barack Obama��s reform of executive pay work?