In less than a month, UK voters will be asked to express their intention to leave the EU in a referendum. The UK Prime Minister David Cameroon has strongly argued in favour of staying. However there is disagreement among Conservative MPs, and a few Ministers of his Government have spoken in (...)
2016 is going to be a crucial year for Royal Mail, RM, the 500 year old British postal operator whose privatization process (started in October 2013) was finally completed in October 2015. In a broad sense, it is a decisive time for the entire sector of delivery services in Great Britain. The (...)
The European Commission accepts that EU law requires accounts to provide a “true and fair view” of assets, liabilities, financial position and profit or loss as specific indicators of financial health of companies, including banks. That is something that that IFRS accounting (...)
Back in 2014, several European countries started including the revenues from drugs and prostitution into their national accounting systems. These two sectors have several characteristics in common. First, the consumption of drugs and paid sex is usually considered an immoral activity from a (...)
After the end of communism, the countries of Central and Eastern Europe shared very similar challenges. Despite the different patterns of transition, the dominant model of “catching up with the West” included the adoption of western legal and institutional standards. In economic terms, this meant (...)
An historic decentralization deal in England
There is historically in England a North/South division. In the South, trade and financial services have made London the target of international investments and the principal source of economic growth in the country. In the North, there is no city (...)
Bank share prices recover after further falls early February. However, credibility of ECB increasingly questioned as it considers further expansionary policies.
Fears of a renewed banking crisis, which had seemed a possibility in January, abated in February. By March 7th, (...)
Addictive Manufacturing (AM) is the name adopted in industries whose production is defined by the use of large scale 3D printing techniques. 3D printing is a technology which builds three-dimensional objects from a digital prototype. Today AM represents the foremost level of digitalisation in (...)
A deteriorated banking sector in a worn-out economy At the beginning of 2016, in the context of the new EU legislation on “bail in”, Italy found itself unprepared to face the emerging crisis of its credit system, mainly caused by two correlated elements: 1. a banking sector weakened by a large (...)
Most of the literature on rent-seeking and the size of government expenditure has focused on the mechanisms through which policy-makers gather the necessary majorities to justify and expand the role of the state, and thus increase tax pressure.
By contrast, the authors of this paper examine a (...)