According to a scientific paper just published, lockdowns in Europe and the US decreased COVID-19 mortality by a mere 0.2% on average, while the economic costs were enormous. This is…
This little county on the shores of the Baltic Sea will become the 18th member of the Eurozone. That is well deserved since Latvia meets all of the Maastricht criteria.…
June’13 Newsletter: New Members Join The European Union, While Bail-Outs And Banking Regulation Are Questioned
Welcome to the clubs! Why should they join? The crisis is not over and doubts about the virtues of the EU and the euro abound. It may therefore seem surprising…
“A recession can be a good time to grow a business”. Thus is the opinion of Lord Young, a British cabinet minister under late Prime Minister Margaret Thatcher and still having his own office in Downing Street. Lord Young’s comments are stated in a report to be published this week and addressed to Prime Minister David Cameron. It is obvious that Lord Young stands for a “creative destruction” and is actually stating an economic truth. But truth is not always welcomed by unions and especially by the Trades Union Congress.
Richard Durana, Ph.D, director of Institute of Economic and Social Studies (INESS) has annouced that INESS released the Receipt for Government Services for 2013.
The annual price of the state for Slovakia increased by EUR 322 (7.3%) and reached EUR 4,704 per citizen.
This is an unexpected outcome of the Cypriot “bail out – bail in”. The fact that the Cypriot Government is now able to control money transfers and cash withdrawals is a threat for the European market. Can it still be called a free market if restrictions are applied on the ability to move money? Isn’t it also a denial of property rights?
The Cypriot crisis has enthroned Germany has the leading European country. European economics are likely to be German driven from now on. Thus, fiscal profligacy or faulty business models are considered to have caused the recent crisis and the German cure to this is clear: austerity and structural reforms must be enforced. Cyprus was first on the list.
This 3rd newsletter, written by Kevin Dowd and Gordon Kerr with Enrico Colombatto, is pointing out the auterity consensus tested as the Irish liquidation of Irish Bank Resolution Company, anayzing also further Collapses, Poor Results and Regulatory Arbitrage in banking.
If an agreement could not be found with the previous Cyprus communist-led government, negotiations resumed intensively between the Troika of European Union, International Monetary Fund and the European Central Bank and the newly elected President Nicos Anastasiades. The Euro zone is again at stake: Cyprus’ bailout would amount to 17 billion euros, equal to Cyprus’ annual economic output. But would it be able to repay?
The European Union is about to bail out Cyprus but no details on how it could be done are released yet. Joerg Asmussen, ECB board member, announced that “the troika of European Union, International Monetary Fund and the European Central Bank would send a mission of experts to Cyprus on Tuesday for a technical analysis of the country’s financing needs and to get a better understanding of the new Cypriot government.” Owing to the importance of the event for the Euro zone, it is worth reminding what Enrico Colombatto, IREF scientific director, wrote on Cyprus’ bailout.