Despite the doom and gloom surrounding Italy's future prospects, the president of its employers association, Confindustria, is confident that the country's new government has already made great strides towards putting it back on a path to growth.

A return to economic growth in Estonia shows that it is possible to benefit from eurozone membership, even amid Europe's financial crisis. But governments must first acknowledge the limits of what the state can do.

As China moves from producer to consumer, as more bilateral trade agreements are signed, and as more environmental disasters show just how vulnerable a country's manufacturing base can be, a new era is emerging that is changing the entire philosophy of the global supply chain.

There is a feeling in some circles that as the East rises, the West must simultaneously decline. But why? Rising prosperity in Asia means more opportunities for businesses and banks in North America and Europe, and the only ones to suffer will be those who continue to think along 'East versus West' lines.

Banks are swapping assets in a bid to transform illiquid assets into liquid, highly rated assets that are eligible for repo. But do regulators fully understand the implications and fears that banks are repeating the mistakes of past, and just who has all the repos?

One of the key facets to Europe emerging from its current malaise lies in the creation of a market in which its social businesses – innovative entrepreneurs that make up about 10% of the continent’s companies – can thrive, unencumbered by red tape, lack of finance or regional boundaries. The European Commission is on the case. 

With an economy on the rise and an influx of new foreign investment, Panama's businessman-turned-president Ricardo Martinelli is planning to push on with taking advantage of the country's location and expanding the Panama Canal, as more ships look to transport goods between the Atlantic and Pacific oceans. 

While the financial crisis and its aftermath have been a humbling experience for the banking industry, there is a need for humility among central bankers, too.