By Jeff Desjardins, Visual Capitalist The European Union has always been primarily a political project. The idea of the union was to take peoples that had long and complicated histories, and to place them in a situation where they must work together and shed their differences in order to achieve success. From the political angle, it can … Continue reading
By Eugen von Böhm-Bawerk According to the proposed budget submitted by the current ‘blue-blue’ government the Norwegian deficit will reach another record high in 2016. Mainland taxes are expected to bring in 1,008 billion NOKs, while expenditures are estimated at 1,215 billion NOKs. In other words, 2016 will be another year of record mainland deficit which … Continue reading
By Stéphanie Thomson The International Monetary Fund (IMF) has revised its outlook for 2015 global growth to 3.1%, down from the 3.3% it forecast back in July. It’s the weakest growth since the financial crisis, and shows how much economies are struggling to get back on track: “A return to robust and synchronized global expansion remains elusive,” … Continue reading
By Michael Snyder Is something about to happen in Germany that will shake the entire world? According to disturbing new intel that I have received, a major financial event in Germany could be imminent. Now when I say imminent, I do not mean to suggest that it will happen tomorrow. But I do believe that … Continue reading
By Nouriel Roubini Recent market volatility – in emerging and developed economies alike – is showing once again how badly ratings agencies and investors can err in assessing countries’ economic and financial vulnerabilities. Ratings agencies wait too long to spot risks and downgrade countries, while investors behave like herds, often ignoring the build-up of risk … Continue reading
Karl-Friedrich Israel and Jeff Deist discuss the current situation in Greece from Karl’s perspective as a German. Old hostilities between the north and south in Europe are being inflamed, which calls into question the entire purpose of the Eurozone. Would Greece be better off simply leaving the Euro and resurrecting the drachma? Would the less … Continue reading
By Nick Dearden I’ve just had sight of the latest privatisation plan for Greece. It’s been issued by something called the Hellenic Republic Asset Development Fund – the vehicle supervised by the European institutions, which has been tasked with selling off an eye-watering €50 billion of Greece’s ‘valuable assets’. The fund was a real sticking point … Continue reading
Banks in Central, Eastern and Southeastern Europe (CESEE) reduced the pace of deleveraging in the first quarter of 2015 compared with the previous quarter, and the related capital outflows moderated. Credit growth continued to diverge across the CESEE region, according to the latest report from the Vienna Initiative Steering Committee. Banks reporting to the Bank … Continue reading
“Greece’s economy grew in the second quarter in a surprise surge just before the standoff between the government and its creditors forced officials to impose capital controls,” Bloomberg reports. Greece’s GDP grew 0.8% in Q2, according to The Hellenic Statistical Authority. The growth came as a surprise to Bloomberg-surveyed analysts, who were expecting to see a … Continue reading
“Germany, which has taken a tough line on Greece, has profited from the country’s crisis to the tune of 100 billion euros ($109 billion), according to a new study,” published on Monday, AFP reports. Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on … Continue reading