Mr Barroso, European Commission President has a way with words. In January 2013, he declared “that the existential threat against the euro has essentially been overcome”. More recently (April 3, 2013) he pronounced “that the EU has come through the … Read the rest of this entry
I recall a professor in my student days (formal that is, given we are always students if we remain open) telling a postgraduate class that economic development could only occur if the social democratic pretensions of the left, including tolerance … Read the rest of this entry
The – Eurostat Home Page – today (May 1, 2012) told the story of policy failure. On April 30, 2013 there were two major data releases – Euro area unemployment rate at 12.1% and Euro area annual inflation down to … Read the rest of this entry
I agree that we should have speed limits and other traffic regulations to prevent mayhem and carnage on our roads. There are other laws I agree with such as protecting children from sexual predators and laws protecting citizens from police … Read the rest of this entry
And that is the problem. The Treaty (of Lisbon) and all the related Eurozone legalities that define the way the Brussels bureaucracy interacts with the member states is incapable of delivering prosperity to its citizens. In the last week, a … Read the rest of this entry
One of the oft-heard criticisms of Modern Monetary Theory (MMT) is that the original developers (including myself) say one thing but know another. We say – there are no financial constraints on a currency issuing government but then, as if … Read the rest of this entry
I had a long flight today and other things to catch up on after the Easter period. But the stunning news yesterday from Eurostat that the EU17 unemployment rate has now risen (in February 2013) to 12 per cent. Each … Read the rest of this entry
It is a public holiday in Australia today like everywhere. So this is a relatively short blog. In the last week, the tiny nation of Cyprus has committed itself to a path that will see it stagnate for years to … Read the rest of this entry
The latest – EU Employment and Social Situation: Quarterly Review was released yesterday (March 26, 2013). The Press Release – summarises the main results. I will look into the full document in more detail another day. Today (March 27, 2013), … Read the rest of this entry
The expression “a descent into farce” is meant to describe a terminal condition – where things have become as ridiculous (or whatever pejorative term you desire) as they can get. I think the Euro elites are carving out new grounds … Read the rest of this entry
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Full employment abandoned: shifting sands and policy failures
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