Tag archive for ‘default’
The State Is Alive But Not Yet Kicking
A new code of conduct is needed to balance spending excesses in deficit countries and export excesses in surplus countries. Governments, supervisory bodies and international institutions have a vital role to play to allow society at large to reap the potential benefits of a system of decentralised decision-makers. Only consistent and forceful interventions in financial [...]
Paul Krugman on the Possibility of a Euro Breakup
The Greek tragedy is reaching a tipping point. Yesterday, we published an open letter written by a group of economists making the case for a European solution. After the Berlin meeting, it has become clear that Angela Merkel intends to stick to her position and won’t be pushed into quick action. Given the dramatic pace [...]
The Greek Aftershock – Will it Make or Break Europe?
After the earthquake come the aftershocks. That is a law of geophysics, and now apparently of economics. Well over a year ago, the world economy suffered a massive economic quake of 8.0 on the Richter scale. Since then different countries have been experiencing a number of aftershocks. Two aftershocks have grabbed headlines, one recently in [...]
