The Moral Economy Of Debt

Every economic collapse brings a demand for debt forgiveness. The incomes needed to repay loans have evaporated, and assets posted as collateral have lost value.

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

The ECB’s Faulty QE Weapon

The discussion has so far followed easily predictable national patterns: Creditor countries do not object to deflation, because it increases the real value of their