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Euromoney received replies from 32 economists at leading financial and economic institutions. They gave each country's economic performance for 2003 and 2004 a score out of 100. The world's fastest-growing, best-performing economy in an ideal year would score 100; the worst economy in a disastrous year would score zero. Respondents were asked to consider economic growth, monetary stability, current-account, budget deficit or surplus, unemployment and structural imbalances. Economists also gave their GNP growth forecasts for 2003 and 2004. Countries which received no votes were excluded from this table.

Asian recovery belies slack global growth

In volatile equity markets, more deals than ever are being done with no documentation and little if any due diligence. Are banks taking too many risks?

Argentina is coming out of crisis, but few investors have noticed. Those that have can do little to profit from their knowledge. But there's a long way to go and the aspirations of the 1990s are unlikely to be fulfilled.

A unified European securities trading infrastructure finally appears to be within reach. But will the market appreciate it when it gets what it's always asked for? After all, inefficiencies present opportunities to make money. If cross-border trading gets cheaper the benefit should be passed back to the end investor. Yet banks and fund managers, under pressure to slash costs, might not be ready to hand it over.

By 2005 Germany's Landesbanken will lose their state support. Then, say the private commercial banks, the country's banking system will benefit from a level playing field. But none of the banks will be able to turn a profit if they don't make radical changes.

Despite investment banks' profits being under pressure, with share prices on the slide, bonuses and jobs being slashed and a general state of panic and insecurity throughout the industry, all the major banks will still be shelling out for a box or suite at this month's CSFB-sponsored Hong Kong Rugby Sevens.

Foreign exchange

Director of research, Hermitage Capital Management

Credit derivatives

UK prime minister Tony Blair is facing the biggest test of his political career as he tries to persuade the British public to support military action against Iraq in alliance with the US. But his government is not just dealing with a major foreign policy problem. The UK economy is also under scrutiny.