Eurozone

Eurozone Crisis?  Not to Worry!

Eurozone Crisis? Not to Worry!

That’s the conclusion of economists Fred Bergsten and  Jacob Funk Kirkegaard.  They take the long view of things.  From that perspective, not only will Europe rise to the occasion, the EU will become stronger as a result: As the US Constitution’s 27 current amendments clearly show, faulty initial designs need not preclude long-term success. If [...]

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The Economy:  Is that light at the end of the tunnel or a runaway freight train?

The Economy: Is that light at the end of the tunnel or a runaway freight train?

It is hard to tell whether economic optimism is justified these days.  BusinessWeek reports that the US jobs outlook is brightening thanks to gains in manufacturing and mining–thanks mostly to the expansion in gas extraction (fracking, anyone?) On the other hand, the Wall Street Journal reports that Germany’s economy is in the midst of a [...]

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A New Global Recession?  No way

A New Global Recession? No way

That’s the argument made by Thomas Exner in Die Welt.  And he makes a pretty good case: If we take developments on the stock market as an indicator for future development of the real economy, the result might well be a panic attack. Investors’ grave uncertainties would particularly affect exporting countries. But here’s another way [...]

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Fiscal Austerity & the Eurozone

Fiscal Austerity & the Eurozone

In case you’re wondering how the European experiment with fiscal austerity in a slack economy is working out, a recent Wall Street Journal article may provide some indications: The euro-zone economy suffered a major loss of momentum at the end of the second quarter and retail spending fell sharply, even as the European Central Bank [...]

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Is Italy Next?

Is Italy Next?

That’s what a recent article in Deutsche Welle suggests: Eurogroup President and Luxembourg’s Prime Minister Jean-Claude Juncker had a good reason for last weekend’s warning that Italy could be the next country to fall prey to the debt crisis that is engulfing Greece. Italy has the second highest public debt in the eurozone, after Greece. [...]

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