ECB, Greece And The Ticking NPL Time-Bomb
After the ECB regulatory tightening on banks’ non-performing loans (NPLs), announced with the well-known “addendum” to its guidance to banks of October 5, a barrage
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Social Pillar: Time For Principled Opposition To Austerity Consensus
On 17 November in Gothenburg, Sweden, EU leaders met for a “social summit”, presided over by Jean-Claude Juncker, President of the European Commission, who had
Baltic Austerity And Euro Area Contagion
I lived in Riga, the Latvian capital, from 1999 to 2003 just before the Baltic States became European Union member states in 2004. EU membership
The (False) Promises Of Digitalization
We are surrounded by enthusiasts advertising a wonderful new world of “smart factories”. Among them are government representatives, business and employer associations, CEOs from big
The Left-Sovereigntist Fantasy: A Response To William Mitchell And Thomas Fazi
William Mitchell and Thomas Fazi (WM/TF) have written a piece that – under the presumptuous title of Everything You Know About Neoliberalism Is Wrong –
Economic Growth Is No Longer Enough
Macroeconomic data from the world’s advanced economies can be mystifying when viewed in isolation. But when analyzed collectively, the data reveal a troubling truth: without
The Vicious Circle Of Inequality
For more than a decade, organizations such as the IMF, OECD, ILO and even World Economic Forum have issued stern warnings that the global trend
Why Facebook Should Be Taxed And How To Do It
The new information technologies have created a whole range of companies that have become extremely profitable. The most successful ones are in the list of
Turning The Tide On Inequality
It is hard to believe that it is any coincidence that by far the most economically unequal large country in the European Union, the UK,
The Case Against Free-Market Capitalism
Free-market capitalism is on trial. In the United Kingdom, Labour Party leader Jeremy Corbyn accuses neoliberalism of increasing homelessness, throwing children into poverty, and causing
A Real Alternative To Neoliberalism
When laissez-faire economics led to catastrophe in 1929, Keynes devised a comprehensive economic theory to replace it. When Keynesian demand management hit the buffers in
The True – and False – Costs Of Inequality
Kate Pickett and Richard Wilkinson
The first research papers showing that health was worse and violence more common in societies with large income differences were published in the 1970s. Since
Schäuble’s Poisoned Parting Gift To The Eurozone
Those who wish to leave – so a German saying – you should not seek to dissuade from so doing. To few people is the
International Banking: Known Evil Or Unknown Good?
From 2000 to 2007 European banks’ overseas assets almost quadrupled, making them the most globalized in the world, while from 2007 to 2015 they shrank
Berlusconi’s New Lira Or Fiscal Money?
The former Italian prime minister Silvio Berlusconi has officially launched a project to issue a new national currency complementary to the euro as the ace
Citizens’ Wealth Fund To Tackle Inequality
Recently, Liberal-Democrat leader Vince Cable joined the long list of politicians who have warned of the dangers of excessive inequality. But strong as the speech