Public spending

Portugal has undergone a huge change. There is a completely new political leadership: younger, better prepared, and much more open to the civil society. But even this “right wing” government lack the theory to understand the causes of the crisis Portugal currently faces, and thus seem unable to deliver real change.

Moody’s rating agency warned on Friday on Italy’s public debt and mentioned the reviewing of Italy’s credit rating for a possible downgrade. This change, if it happens, would increase the government’s borrowing costs and have a very negative impact on public finances.

This is the amount of money promissed to Egypt and Tunisia by the multilateral development banks at the G8 meeting. This will include grants under the EUs budget for its…

While several EU member states are facing an unprecedented sovereign debt crisis and others are struggling to cut their spending to avoid the crash, the EU Budget and Financial Programming…

This would be the annual interest on the USA public debt in 2021, according to the estimations made by the economist Veronique de Rugy. This number is nearly triple from…

When reflecting on the causes of the current economic and financial crisis, the huge upsurge in private debt is one of the most cited reasons. Some people insist on blaming the private sector for this. According to them, the sustainability of its behavior has been clearly put into question by the recent events. But, what lies behind this exorbitant private indebtedness? This article is focusing on the Spanish case, with some references to the United States.

Despite the insistence of the EU and IMF representatives, Greece is balking at privatizations plan supposed to bring some €50 billion until 2015. Though, this will help the country to…

This is the tax revenue expected by the USA this year, while interest payments on the publicly held debt will be about $200 billion. Contrary to the statements of the…

The last statistics are placing France between the OECD countries with higher number of civil servants. Despite of the decrease of their number in the last years, they are still…

While a resolution of the debt crisis currently facing the eurozone would be most welcome, it is not clear that the current discussion goes much beyond how to bailout member countries, and whether it should be the taxpayers of these countries, the German and French taxpayer or the holders of the debts of these countries, mainly German and French banks. Even if it is decided which solution to take, the underlying problem that caused the crisis in the first place remains. This is the one-size-fits-all eurozone monetary policy.