austerity

The future of Euro is going to be determined by the Greek street in the next few weeks and how they react to the new austerity measures. G-Pap has his work cut out convincing the population the pain is worth it. Stay tuned.

It is high time politicians in Berlin to started to recognise that fiscal austerity is not the be all and end all of the policy issues they now face. Ireland is applying fiscal austerity, but this alone may well not be enough. A better…

The Greek tragedy in several acts would appear to be approaching a climactic moment. The warnings coming out of Berlin all week have been hard to ignore: “Greece either puts up or shoves off” would seem to be the blunt message being…

The ruling by the German Constitutional Court does allow the EFSF to operate as planned. Most commentators have focused on this. However, the language of the decision means there can be no eurobonds and no “supra-national” fiscal agent…

Dollar is mostly firmer against the majors as recent risk rally stalls; US NFP is major focus today. Euro zone jitters pick up after troika suspends Greek talks temporarily; Italy also back in focus. EM sentiment remains poor after Brazil…

ECRI’s underlying message is this: we are in a decade-long post-credit crisis struggle which will mean high unemployment even if policy makers focused on jobs, which they have not.

Last month I wrote an article called “The ECB is the difference” which claimed the ECB was the pivotal institution in the European sovereign debt crisis. I presented two options that the European Central Bank had in relieving pressure on…

Nouriel Roubini took the seat in this week’s Big Interview chair with the Wall Street Journal. He says the risk of a global recession is greater than 50 percent and believes the next two to three months will be decisive in revealing which…

Can Russia get the best of both worlds by freeing its economy from technologically unnecessary charges and rentier tolls paid to special interests? Such expenditures prevent the economy from developing. That is the basic cause of poverty –…

The neoliberal idea is to dismantle the government’s ability to regulate markets to steer growth and economic advance in the national interest. They claim that this is an alternative to centralized planning. But the reality is that it…