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Eurozone

Podenomics vs. Podemology, or Reality vs. Economic Illusions

Iván H. Ayala | Posted 11.24.2014 | World
Iván H. Ayala

Faced with the deterioration of the situation in which Spanish citizens live, it is necessary to find monetary and fiscal policies, and structural reforms, which are different to those applied so far. It is necessary to use the public sector for economic stimulus.

Cyprus President: 'We Became The Guinea Pig Of Europe'

The Huffington Post | Eline Gordts | Posted 11.20.2014 | World

When Nicos Anastasiades won a landslide victory in the country's February 2013 presidential election, Cyprus was facing its worst financial crisis in...

The Global Economy Is Flying on One Engine -- But There Is Turbulence Ahead

Nouriel Roubini | Posted 11.21.2014 | World
Nouriel Roubini

If the Republican Party takes full control of the U.S. Congress in the midterm election, policy gridlock is likely to worsen, risking a rerun of the damaging fiscal battles that led last year to a government shutdown and almost to a technical debt default. More broadly, the gridlock will prevent the passage of important structural reforms that the U.S. needs to boost growth.

The ECB Assessment of Eurozone Banks' Health Will Not Dissipate Fundamental Questions

Georges Ugeux | Posted 10.26.2014 | Business
Georges Ugeux

After months of waiting, we just received the results of the assessment of the health of Eurozone banks by their new supervisory authority: the European Central Bank. They were predictable, but the exercise has limitations.

Why Europe Is Spooking Stock Markets

David Dagan | Posted 10.20.2014 | Business
David Dagan

The stock markets have picked up a bad case of the jitters recently, providing more fodder for the theory that investors don't do well with the approach of Halloween.

Hype and Reality: American Economic Numbers

David Coates | Posted 10.10.2014 | Politics
David Coates

It is true that the rate of economic growth has quickened, but that rate is still low by pre-recession standards. In July the IMF actually cut the U.S. growth forecast for 2014 to just 1.7 percent, the CBO's in August was just 1.5 percent. These are not stellar growth numbers.

Global Economy Shows Increasing Signs of Fragility: From Wall Street to Berlin, the Warning Lights Are Flashing

Sheldon Filger | Posted 10.09.2014 | Business
Sheldon Filger

Underlying and reinforcing fears is the knowledge within the financial community that sovereigns expended so much of their capital in coping with the last worldwide economic crisis, there is little left for policymakers to react with when the next big financial and economic tsunami strikes the global economy.

The Reykjavik International Film Festival Is the Tectonic Meeting Point of European and American Indie Cinema

James Marshall Crotty | Posted 10.13.2014 | Entertainment
James Marshall Crotty

Whether you are looking to write, scout or shoot (the Icelandic Film Centre offers a 20 percent rebate if you meet certain "cultural criteria"), put Reykjavik and RIFF in your filmmaking bucket list.

The EU's Anti-Austerity Hypocrites

Steve H. Hanke | Posted 09.29.2014 | World
Steve H. Hanke

According to the coalition, its members simply cannot impose further spending cuts. They assert that their budgets have been cut to the bone. This claim is ludicrous.

Germany Has the Most Unequal Distribution of Wealth in the Eurozone

Nicolas Berggruen | Posted 09.27.2014 | World
Nicolas Berggruen

Germany has the most unequal distribution of wealth in the eurozone. In this sense, Germany faces the same challenge as China: a high-export and saving economy which needs to rebalance through policies that create a greater flow of wealth to households, thus spurring greater consumption. This, in turn, can create demand for imports from Germany's European neighbors.

What Will Be Summer 2014's Big Story? A Top 10 List Of Candidates

Terry Connelly | Posted 07.28.2014 | Business
Terry Connelly

The summer of 2014 will have a lead story all its own, and there are already many candidates for top honors. So follows a suggested "top 19" list of the stories most likely to dominate the news (if not the beach reading) this summer.

Angela Merkel is not the Queen of Europe

Jürgen Trittin | Posted 07.23.2014 | World
Jürgen Trittin

Europe is both our task and chance to fight for our solitary future -- because only a strong and solidly united Europe can guarantee a democratic globalization.

European Union 2014: Another Chapter in the "Dis-integration" of the EU?

John Sydney Hopkins | Posted 07.16.2014 | World
John Sydney Hopkins

What has evolved over the last 20 or so years is a natural divergence between the fundamentally weaker and stronger economies, particularly since the onset of the global financial crisis five years ago.

Democracy's Conundrum: Reforms Take Time to Mature -- But Voters Want Results Now

Mario Monti | Posted 07.13.2014 | World
Mario Monti

All great reforms must first mature. To be successful, they must be fully understood by society. This process requires time and a lot of explanations. However, the need to obtain the consent of the people must not deter the leaders from their mission, even if it makes them unpopular. As it is written in the American Federalist Papers: "When occasions present themselves, in which the interests of the people are at variance with their inclinations, it is the duty of the persons whom they have appointed to be the guardians of those interests, to withstand the temporary delusion, in order to give them time and opportunity for more cool and sedate reflection (Federalist Papers Nr. 71). What is called "populism" nowadays is not really tantamount to defending the real interests of the people. Rather, it is a political ruse, which consists of using ultra-simplified language that is easily understood by the people, playing on their sense of fear, to conquer power.

April Showers Hit Markets: Bring an Umbrella to Trade

Terry Connelly | Posted 06.11.2014 | Business
Terry Connelly

Forces at work from Tokyo to Kiev have been roiling the U.S. stock market for a couple of week. But the financial sushi that is now on the menu in Japan, and Russia's "Crimea of the Century" are only part of the story.

Greeks Struggle to Pay Bills

Ben Barber | Posted 06.09.2014 | World
Ben Barber

Euro zone financiers agreed to release 8.3 billion euros in rescue loans to Greece. It was a sign Europe believed Greece is emerging from its crisis. But for the ordinary people looking for work in Athens and elsewhere, recovery will take a long, long time.

Memo to Alex Salmond: Independence Is for Life, Not Just for Christmas

David Miles | Posted 06.03.2014 | Politics
David Miles

Fast-forward to 2014. There is a contradiction and an absurdity at the heart of the SNP's economic claims regarding a currency union and, ultimately, the party's case for independence.

Secular Stagnation: A Working Pair of Scissors Needs Two Blades

Otaviano Canuto | Posted 05.12.2014 | Politics
Otaviano Canuto

There is a core divergence among some "Keynesian" and "Schumpeterian" economists who have proposed stagnation hypotheses; each camp points to different underlying factors for continued anemic levels of growth.

Re-Founding Europe

Carlo De Benedetti | Posted 04.15.2014 | World
Carlo De Benedetti

We really need to re-found Europe. Lisbon has become archeology. It is time to work on a new decisive step forward, a leap forward in our flight towards the United States of Europe -- because this must be our final objective.

Economic and Social Policy and the Problems of the Eurozone and European Integration

Mark Weisbrot | Posted 03.31.2014 | Politics
Mark Weisbrot

While the problems of differing belief systems, cultures, and building common political institutions are real and fascinating, what really makes all these problems immensely more difficult right now is that the European elite is trying to impose very regressive and unpopular changes on their citizens.

The Costs of Austerity: Squandering $2.3 Trillion Yearly of our Productive Resources

Jakob von Uexkull | Posted 03.16.2014 | Business
Jakob von Uexkull

We are failing to use all the productive resources available to us and, as a result, over 200 million people are unemployed around the world. On the other hand, we live beyond our natural limits because we use more natural and finite resources than is sustainable. A huge opportunity thus presents itself.

Europe's Way to Destruction (?)

Thanos Dimadis | Posted 02.03.2014 | World
Thanos Dimadis

Having recently had a most interesting interview with the European Commission's president, José Manuel Barroso, I realized how much Europe struggle...

Why the World Needs Europe

Tony Fernandes | Posted 02.02.2014 | Business
Tony Fernandes

When you manage a foreign company, the image that Europe portrays is different in many respects from what you're used to hearing. The continent is the most important foreign investor in many regions of the world, including South-East Asia.

The True Cost Of A Financial Crisis

Reuters | Posted 01.23.2014 | Business

* Study sees falling life satisfaction in crisis-hit countries * Trust in government also in decline in wake of crisis ...

How Do Those Germans Do It and What Does it Mean for the U.S.?

Jared Bernstein | Posted 01.23.2014 | Business
Jared Bernstein

Paul Krugman has a piece up today about how Germany's large and persistent trade surpluses play an important, destructive role in the slump in the rest of the Euro area -- essentially, they import much-needed labor demand from the rest of the zone.