fiscal

Below is a table of all the Eurozone debt and deficit figures for 2009.  The chart is in German from the Frankfurter Allgemeine newspaper, but I think the country names are clear except Österreich, which is German for Austria. The…

Tax revenue at state and local governments has plummeted. With house prices in California down substantially, it is even more dire for municipalities there. The result will be widespread budget cuts and, where possible, income tax hikes.…

The results are in from the poll on Greek sovereign bond default. To the question of "Will Greece default?" a plurality said "Yes, but they will stay in the euro-zone after a managed restructuring." Another 26% answered…

The EU-IMF package came in at 110 billion euros (80 from the EU and 30 from the IMF). It is designed to see Greece through to 2014 for the stability and growth pact 3% deficit hurdle, not 2012 as had been anticipated by many. After news of…

Regular readers know that, while I have a little of what Marshall Auerback calls deficit terrorism in my DNA, I fully support fiscal stimulus as a means to arrest a deep downturn.  The horrendous Keynesian nightmare My move into…

Q: Will Greece default? Here are the possible answers for the poll (embedded below on the site)? No, they will take the necessary austerity measures plus receive enough support from the EU and IMF. Yes, but they will stay in the…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Problems of state and municipal finance worsen. Governors announce new…

Marshall Auerback here with some thoughts on how problems in the Eurozone conflict with Washington's export agenda. A recent poll by Douglas Schoen and Patrick Caddell suggests that swing voters in the US, who are key to the fate of the…

Well, if you read this report from Euractiv, citing unnamed EU Commission officials, it is: “If nothing extraordinary happens, the Commission will give its positive opinion for the accession of Estonia to the euro zone on 12 May,” an EU…

The Maginot Line, named after French Minister of Defense André Maginot, was a line of defenses which France constructed along its borders with Germany and Italy after suffering appalling damage and casualties during World War I. The French…