Category Archives: Eurozone

Commentary on the madness involved in setting up the EMU and how it is dysfunctional

Why is Europe celebrating the 60th anniversary of the Treaty of Rome?

The tiny nation of Malta (~ 420 thousand population) and the only one of two Eurozone nations that have English as one of its official languages is now hosting the EU Presidency for 2017. This was a function that was … Read the rest of this entry »

Posted in Eurozone | 11 Comments

Inflation rises in Euro Area – but don’t claim it is the ECB’s doing

Eurostat released the latest inflation data for the Eurozone last week (March 2, 2017) for February 2017 – Euro area annual inflation up to 2.0%. As the title reveals the Euro area inflation rate rose from 1.8 per cent in … Read the rest of this entry »

Posted in Central banking, Eurozone | 3 Comments

The ECB should not become a fiscal agent

On November 29, 2016, Mario Draghi, the President of the ECB wrote to Mr Jonás Fernández, a Spanish European Parliament member in reply to a request for clarification from the Chairman of the EP’s Committee on Economic and Monetary Affairs … Read the rest of this entry »

Posted in Central banking, Eurozone, Fiscal Statements | 22 Comments

The neo-liberal colony of Greece takes another step backwards

The Eurozone flash National Accounts estimates for the fourth-quarter 2016 was released yesterday by Eurostat – GDP up by 0.4% in the euro area and by 0.5% in the EU28. The annual growth rate for the Eurozone in 2016 was … Read the rest of this entry »

Posted in Eurozone | 14 Comments

Greece still should exit and escape the grip of the vandals

Greece is back in the news as the IMF, the Germans and the European Commission slug it out pretending to talk tough and propose solutions to the Greek tragedy. There is no solution of course. All the debate about whether … Read the rest of this entry »

Posted in Eurozone, IMF, US economy | 28 Comments

The Italian elites knew all along that the Eurozone would be a disaster

There is often a discussion about whether politicians and government officials introduce policy changes that end up being damaging to the well-being of the people are ignorant or wilful. It is sometimes hard to discern what the agendas are and … Read the rest of this entry »

Posted in Eurozone, US economy | 13 Comments

Mario Draghi uses TARGET2 to cower Italy into staying within the Eurozone

The new US President has now scrapped the TPP and is turning his attention to NAFTA. These are developments that those on the Left should applaud. No so the conservative, neo-liberal government in Australia which is claiming it is pushing … Read the rest of this entry »

Posted in Eurozone | 14 Comments

France Stratégie’s three options for the Eurozone ignore the elephant

I read a short discussion paper this morning – What model for the future of the eurozone? Critical actions – released by France Stratégie, which is formally known as the Commissariat général à la stratégie et à la prospective (CGSP). … Read the rest of this entry »

Posted in Eurozone | 13 Comments

Using welfare systems to hide the problem of deindustrialisation

There have been lots of E-mail requests overnight for commentary on the US election result. I think that space is pretty crowded at present – with Clinton supporters trying to reconstruct events to defray their responsibility (a denial strategy), in … Read the rest of this entry »

Posted in Economics, Eurozone, UK Economy, US economy | 19 Comments

ECB – every which way but to the point

Eurostat released the latest national accounts data for the Eurozone yesterday (October 31, 2016) – Preliminary flash estimate for the third quarter of 2016 – which showed that real GDP grew by 0.3 per cent in the third-quarter 2016, unchanged … Read the rest of this entry »

Posted in Central banking, Economics, Eurozone | 6 Comments