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Philip Booth
28 November 2012
1 comment

Another bailout deal has been secured for Greece. Some of the country’s borrowing will be written off – it will be left with a debt to GDP ratio of 'only' 125 per cent. But is...
Holger Zemanek
26 June 2012
comments

Political instability in Greece and a further worsening of the banking crisis in Spain recently sparked a new wave of the European debt crisis. The possibility of Greece leaving the eurozone...
Vuk Vukovic
18 June 2012
1 comment

As its crisis continues, more and more people are calling for Greece to follow the Argentine 2001 example and devalue its currency. This would imply leaving the euro and returning to...
Philip Booth
15 June 2012
comments

There has long been support for the EU project in the Vatican but, as ever in these matters, we have to ask whether governments and supra-national organisations remain the servants of the people or...
André Azevedo Alves
30 May 2012
1 comment

As odd as it may seem, Alexis Tsipras may well be the eurozone's best hope at the moment. As Greece heads towards new elections and a clear majority of the electorate is seemingly...
Kristian Niemietz
23 May 2012
2 comments

The rate for travel insurance depends critically on where we go and what we do there. A hiking tour through the Amazon rainforest comes at a higher premium than a stay at a health spa at Lake...
Juan Ramón Rallo
22 May 2012
13 comments

It is not austerity but the threat of insolvency that is killing peripheral economies such as Spain. Since it has become clear that the European Union is not willing to completely mutualise risks...
Vuk Vukovic
23 April 2012
4 comments

Last month saw the first eurozone default. Greece defaulted on its debt, but this event, contrary to popular belief in the final quarter of 2011, did not cause an abrupt panic. It did not force...
Philip Booth
20 January 2012
3 comments

Many UK economists are pretty sanguine about euro break-up. Patrick Minford, for example, in the minutes of the Shadow Monetary Policy Committee this month wrote that tales of disaster have little...
G. R. Steele
17 November 2011
comments

The European Central Bank (ECB) sits at the centre of a clearing system (‘TARGET2’) for national central banks (NCBs) within the eurozone. The pattern that has built up, particularly...
Kristian Niemietz
4 July 2011
2 comments

A man comes in to his regular delicatessen shop and blurts out at the owner, ‘You need to help me out! The bank is cutting my credit line, just as a big instalment to my other bank comes due...
Philipp Bagus
28 June 2011
2 comments

A second aid package to the Greek government hinges on severe austerity measures. Why doesn’t Greece simply default and leave the euro as so many Greek protestors demand on the streets...
Holger Zemanek
13 May 2011
9 comments

Last week rumours circulated that Greece is considering leaving the eurozone. In addition, representatives of the European Commission and European finance ministers apparently held a secret meeting...
G. R. Steele
18 April 2011
2 comments

The eurozone came with fine aspirations: according to article 127 in the consolidated version of the Treaty on the Functioning of the European Union ‘the primary objective of the European...
Philip Booth
23 November 2010
1 comment

Europe is trapped in a cycle where debt is being passed round and round in circles – the banks are bust so the Irish government bails them out; the Irish government’s debt is owned by...
Holger Zemanek
22 November 2010
9 comments

The Irish bailout shows that Greece was just the first act of the ongoing euro crisis. It is now almost certain that Ireland will accept an EU/IMF rescue package to calm down...
D. R. Myddelton
18 May 2010
comments

The new Chancellor of the Exchequer’s proposal to set up an independent Office for Budget Responsibility sounds like a good idea. But how sad that government ministers cannot be trusted...
André Azevedo Alves
11 May 2010
6 comments

After years of continuous growth in public spending and public debt, the Portuguese economy finds itself in a bleak situation in the context of the ongoing international crisis. Internal and...
Holger Zemanek
10 May 2010
6 comments

This weekend the EU finance ministers, the EU and the IMF agreed a huge bailout package for the troubled eurozone countries and the single currency. The emergency package comes after...
Malte Tobias Kähler
10 May 2010
4 comments

The Austrian Business Cycle Theory (ABCT), developed largely by Ludwig von Mises and F. A. Hayek, predicted the present crisis and explained its causes in advance. Many commentators aware of...

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