Why We Need To Rewrite The Maastricht Rules
The 1992 Treaty of Maastricht that lay the basis for the euro committed signing governments to several economic targets. Subsequent treaties and protocols made these
EU Stagnation Continues: Deja Vu All Over Again
With the returning regularity of a bad habit, the Financial Times reassures us that yet again German economic growth snatches the euro zone from the
The Eurozone: Deflationary Boom Or Deflationary Bust?
Several years ago the idea that fiscal austerity could induce growth, “expansionary austerity”, had a brief flowering before withering under the heat of ridicule. Recently
Euro Deflation And How To Interpret It
If you read Larry Summers in the Financial Times, you know that recent data confirm falling prices in the euro zone. Summers argues that the
Economic Recovery? Why Eurozone Under-performance Continues
Prior to the release of growth statistics in the middle of August there was widespread expectation that a sustained eurozone recovery would at last be
German Vice-Chancellor Says Tsipras Is Threat To “European Order” – And He Is Right
Faced with a decision that would conflict with its promises to the Greek people no matter what choice it makes, the Syriza government has taken
This is Recovery? Germany, ‘Powerhouse’ In Need Of A Jump-Start
The German government has been a strong supporter of austerity programmes, arguing that the associated goals of deficit and debt reduction provide the best, if
Why The Structural Deficit Does Not Exist
A few days ago the Italian government objected to the way that putative technocrats at the European Commission calculated their country’s “structural deficit”. To all
The EU Recovery That Never Was
Economic recovery in the Eurozone is not delayed. It is non-existent. The Financial Times for the first day of October carried several articles assessing the
Inequality is Falling Globally! (And Similar Nonsense)
I bet you think that the rich are getting richer and the poor poorer. A few well-known facts might lead you to this conclusion. For
Why Is Capital In The 21st Century (C21C) Such A Success?
About a month ago — this is a true story — after a meeting of Economists Against Austerity, I hailed a taxi in Westminster (the
Chancellors, Fools And The UK Recovery
I grew up in Texas where state and local judges are elected, not unusual in the United States. In most states minimum legal qualifications are