Thursday, January 30, 2014
Jean Pisani-Ferry says that many European governments can cut spending without fueling inequality. - Project Syndicate
Jean Pisani-Ferry says that many European governments can cut spending without fueling inequality. - Project Syndicate
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
ome countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
ome countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
some countries are more efficient at social welfare than others.
Read more at http://www.project-syndicate.org/commentary/jean-pisani-ferry-says-that-many-european-governments-can-cut-spending-without-fueling-inequality#rGL4gxR8VGpAVPC1.99
Wednesday, January 29, 2014
Pierre Pâris, Charles Wyplosz : The PADRE plan: Politically Acceptable Debt Restructuring in the Eurozone | vox
The PADRE plan: Politically Acceptable Debt Restructuring in the Eurozone | vox
the PADRE plan offers a painless and efficient way of solving the debt
overhang that, if not treated, will haunt Europe for decades to come.
The plan stands to effectively bring the sovereign debt crisis to a
definitive end and save the euro for good. If the plan is adopted, the
market reaction is bound to be enthusiastic, which would provide the
boost to growth and the broad political support that the Eurozone so
desperately needs.
Tuesday, January 28, 2014
Yanis Varoufakis ; Can SYRIZA Change Europe's Economy? | Boston Review
Can Greece's SYRIZA Change Europe's Economy? | Boston Review
see also Greek Finance Minister Reveals Advanced Case of Stockholm Syndrome at Naked Capitalism
and also Δύο πλάνες, ένα ζητούμενο at Protagon
I 've had enough with Y.V.
see also Greek Finance Minister Reveals Advanced Case of Stockholm Syndrome at Naked Capitalism
and also Δύο πλάνες, ένα ζητούμενο at Protagon
I 've had enough with Y.V.
Sunday, January 26, 2014
Friday, January 24, 2014
Thursday, January 23, 2014
Tuesday, January 21, 2014
Saturday, January 18, 2014
Chris Dillow : Paul Krugman & the nature of economics
via Mark Thoma
Stumbling and Mumbling: Paul Krugman & the nature of economics
Stumbling and Mumbling: Paul Krugman & the nature of economics
[economic]theories are not universally applicable but rather of only local and temporal validity
Friday, January 17, 2014
P.Krugman is really angry with Hollande
When Mr. Hollande became leader of the second-ranked euro economy, some of us hoped that he might take a stand. Instead, he fell into the usual cringe — a cringe that has now turned into intellectual collapse. And Europe’s second depression goes on and on.Scandal in France - NYTimes.com
Thursday, January 16, 2014
Kevin O'Rourke on President Hollande's Economics
The Irish Economy » Blog Archive » L’offre crée même la demande.
Francesco Saraceno comments on the same topic.
European left: to all intents and purposes, in many countries there is none.
Francesco Saraceno comments on the same topic.
Keynes: right;
Say (and François Hollande, and the Commission, and Angela Merkel): wrong
Wednesday, January 15, 2014
Martin Wolf "Failing elites threaten our future" - FT.com
Failing elites threaten our future - FT.com
three visible failures.
First, the economic, financial, intellectual and political elites mostly misunderstood the consequences of headlong financial liberalisation.... The rescue was necessary. But the belief that the powerful sacrificed taxpayers to the interests of the guilty is correct.
Second, in the past three decades we have seen the emergence of a globalised economic and financial elite....
Third, in creating the euro,... The eurozone crisis is not just economic. It is also constitutional.
three visible failures.
First, the economic, financial, intellectual and political elites mostly misunderstood the consequences of headlong financial liberalisation.... The rescue was necessary. But the belief that the powerful sacrificed taxpayers to the interests of the guilty is correct.
Second, in the past three decades we have seen the emergence of a globalised economic and financial elite....
Third, in creating the euro,... The eurozone crisis is not just economic. It is also constitutional.
Tuesday, January 14, 2014
Jean-Claude Trichet , Former ECB chief blames governments for euro-crisis
EUobserver.com / Economic Affairs / Former ECB chief blames governments for euro-crisis
"On Greece, Trichet tried to justify his clash with the International Monetary Fund (IMF)."
"On Greece, Trichet tried to justify his clash with the International Monetary Fund (IMF)."
Analysis - Greece hopeful, but any debt relief likely to be symbolic | Reuters
Analysis - Greece hopeful, but any debt relief likely to be symbolic | Reuters
"...debt servicing ...is what matters," said Gilles Moec, economist at Deutsche Bank.
"What is relevant is how much we think a sovereign diverts from his current spending to pay interest and redemptions. From that point of view, a lengthening of maturities has a massive impact,"
"...debt servicing ...is what matters," said Gilles Moec, economist at Deutsche Bank.
"What is relevant is how much we think a sovereign diverts from his current spending to pay interest and redemptions. From that point of view, a lengthening of maturities has a massive impact,"
Saturday, January 11, 2014
Yanis Varoufakis: Greek Finance Minister Reveals Advanced Case of Stockholm Syndrome | naked capitalism
Yanis Varoufakis: Greek Finance Minister Reveals Advanced Case of Stockholm Syndrome | naked capitalism
my comment: Assuming that one agrees with the post’s agit-prop points, one needs to know how Y.V. explains the decision of the Eurogroup that “the sustainability of Greece’s debt will be dealt with after Greece achieves primary budget surplus”.
my comment: Assuming that one agrees with the post’s agit-prop points, one needs to know how Y.V. explains the decision of the Eurogroup that “the sustainability of Greece’s debt will be dealt with after Greece achieves primary budget surplus”.
ECB uses legal word games to dodge bailout accountability | A Fistful Of Euros
ECB uses legal word games to dodge bailout accountability | A Fistful Of Euros
On the ongoing Eu Parliament investigation (?) of the Troika
On the ongoing Eu Parliament investigation (?) of the Troika
The euro: from crisis to complacency | Editorial | Comment is free | The Guardian
The euro: from crisis to complacency | Editorial | Comment is free | The Guardian
The original sin of the euro-enthusiasts was to settle the politics first and then blithely assume that the economics would sort themselves out.
Thursday, January 9, 2014
Tuesday, January 7, 2014
Dan Monaco interviews Peter Temin for The Straddler
Thinking Through the Savage Machinery: Peter Temin and Economic Crises
Policymakers don't read books; they read briefs prepared by their advisers
The problem of insufficient aggregate demand in America and Europe needs to be solved by an expansion of government spending. This means putting policies of fiscal austerity on hold and even temporarily reversing them. Debt problems of various sorts need to be managed to make this possible. Hegemonic leadership will be needed to set us on this course both internationally and in the United States and the Eurozone. The destabilizing [i.e., export-led] policy of Germany needs to change into one of domestic expansion to complement expansion in the Eurozone as a whole. And the destabilizing policy of China needs to change into one of domestic expansion to complement expansion in the West.[29]
Temin and Vines clearly hope that policymakers are among the readers of The Leaderless Economy
Policymakers don't read books; they read briefs prepared by their advisers
Monday, January 6, 2014
Saturday, January 4, 2014
George Soros maps the terrain of a global economy that is increasingly shaped by China. - Project Syndicate
George Soros maps the terrain of a global economy that is increasingly shaped by China. - Project Syndicate
the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99
the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99
the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99
the European Union is heading toward the type of long-lasting stagnation from which Japan is desperate to escape. The stakes are high: Nation-states can survive a lost decade or more; but the EU, an incomplete association of nation-states, could easily be destroyed by it.
Read more at http://www.project-syndicate.org/commentary/george-soros-maps-the-terrain-of-a-global-economy-that-is-increasingly-shaped-by-china#FbYJ5AZHE3zRWduQ.99
Friday, January 3, 2014
Blanchard, Griffiths, Gruss on Latvia and the EZ
BPEA Fall 2013: Hard to Draw Wider EU Lessons from Latvia’s Economic Policies Post-Financial Crisis
In spite of the fact that Latvia is a small country, it has been an object of intense attention during the financial crisis because of the economic policies it put in place to get its economy back on track. By maintaining its currency peg, adjusting through internal devaluation and front loading fiscal austerity, this nation of 2 million is now, 5 years later, back on a strong economic footing, although it may have been quite painful to get there.
Markit Eurozone Manufacturing PMI
http://www.markiteconomics.com/Survey/PressRelease.mvc/b2dfe04a4c1e4e71802d7338b698602f
There was even relatively positive news fromGreece, where higher levels of output and neworders elevated its PMI to a 52-month high andclose tothe 50.0 stabilisation point.
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