The End of the Euro
The euro is the gold standard minus the shiny rocks. Both force countries to give up their ability to fight recessions in return for fixed exchange rates and open capital […]
The End of the Euro
How high does unemployment need to rise, how much output needs to be lost, how much poverty must be endured before European policymakers realize that the framework supporting the Euro […]
Cyprus after Cyprus..
First they purloin the savings and bank deposits in Laiki and the Bank of Cyprus, including the working funds of the University of Cyprus, and thousands of small firms hanging […]
Portugal, the next front in the eurocrisis
Portugal is in a recessionary cycle. The economy will shrink by 2.3 per cent this year, more than twice as much as the previous government forecast (and the slowdown of […]
Vast Greek war claims against Germany explode like a ‘time-bomb’ – Telegraph
The Greek government is in disarray after the leak of an explosive report drawing up vast reparations claims against Germany, covering both the First and Second World Wars. via Vast […]
Portugal, the next front in the eurocrisis
Austerity is likely to be recessionary and self-defeating, when a number of conditions are met. (a) Monetary policy is at the zero lower bound, and cannot compensate the recessionary effects […]
The ECB’s priority should be to fix southern Europe – FT.com
the most important question facing European monetary policy is how to fix the credit crunch in the southern half of the monetary union. Wolfgang Münchau via The ECB’s priority should […]
European banks after Cyprus..
Barclays published a note suggesting the Cyprus mess, plus the incoming common resolution framework, might wipe €15bn annually from the profits of Europe’s biggest banks. via European banks after Cyprus…
Portuguese unemployed move to… Mozambique
A few years ago, the thought of moving to one of Africa’s poorest country in search of work would have seemed unthinkable for most Portuguese, particularly given the bitter legacy […]
Lone Dutch Hero
Mr Teulings is not the only economist in the Netherlands sceptical of austerity, but he has been the only one with any policy influence. Prominent austerity sceptics at universities and […]