debating progressive politics in Europe and beyond
The latest Eurostat flash estimate shows that at least nine EU countries are in recession, having posted negative economic growth in both the first quarter of 2012 and the last of 2012. In four of these Member States that makes three consecutive quarters of contraction and in Greece and Portugal output has been falling for [...]
Europe is in recession. Britain’s Office for National Statistics confirmed that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage make a recession). On Monday Spain officially fell into recession, for the second time in three [...]
Every time I think we might be making progress against the prejudices and myths that pass for judicious thinking these days, something like this editorial in the FT comes along to renew my despair. The editorial is a response to the latest bad UK economic news, which it says offers no reason at all to reconsider austerity [...]
From Britain’s Office of National Statistics (pdf): When David Cameron became PM, and announced his austerity plans — buying completely into both the confidence fairy and the invisible bond vigilantes — many were the hosannas, from both sides of the Atlantic. Pundits here urged Obama to “do a Cameron”; Cameron and Osborne were the toast of Very Serious People [...]
Austerity is really working wonders, isn’t it? The widely predicted - at least on SEJ and other progressive outlets – severely negative impact on growth of this nonsensical austerity politics is becoming clearer and clearer. Since today, the UK is officially in a double dip recession. BBC News reports: The UK economy has returned to recession, [...]
The recent joint economic forecast by the IMK, WiFO and OFCE is now available in English (see the link on the right; auf deutsch hier). I should warn you: it makes miserable reading. While the extraordinary measures by the ECB and the shoring up of the European bail-out fund have averted a meltdown, the institutes [...]
Once upon a time, former PES President Poul Rasmussen called the Barroso team “Chicago boys”. Now, Green leader Daniel Cohn-Bendit talks of “neoliberal Taliban”. Understandably, the President of the European Commission is not amused. So, let’s look at the facts: According to the Commission’s reading, the deepest financial and economic crisis since the 1930s is [...]
To say the obvious: we’re now in the fourth year of a truly nightmarish economic crisis. I like to think that I was more prepared than most for the possibility that such a thing might happen; developments in Asia in the late 1990s badly shook my faith in the widely accepted proposition that events like [...]
Since late last year, a series of positive developments has boosted investor confidence and led to a sharp rally in risky assets, starting with global equities and commodities. Macroeconomic data from the United States improved; blue-chip companies in advanced economies remained highly profitable; China and emerging markets slowed only moderately; and the risk of a [...]
Austerity alone cannot solve Europe’s economic and financial crisis. Growth and jobs need to be promoted with equal zeal. European Union leaders now recognize this: kick-starting growth in 2012 was high on the agenda at the European Council’s meeting on January 30. But the big question remains: How? The need for immediate action is clear. [...]
Keynesian economists made some pretty clear predictions around 3 years ago – predictions that were very much at odds with what anti-Keynesians were saying. We said that as long as the economy remained deeply depressed, even a huge rise in the monetary base would not be inflationary, and that even huge budget deficits would not send interest [...]
Irish economist David McWilliams gives us a first lesson in punk economics, explaining the European economic crisis in 10 minutes and pretty much all of it is spot on. A great way to visualise the very complex nature of the current predicament.
SocialEurope Journal: SEJ Article: A Breakthrough Opportunity for Global Health http://t.co/VYXi6Wag SocialEurope Journal: SEJ Article: When Neo-Liberals drop their Mask http://t.co/saAJbUZH SocialEurope Journal: SEJ Article: At least nine EU countries in recession: stimulus urgently needed http://t.co/oNN0v98l SocialEurope Journal: SEJ Article: European Monetary Union: Doomed to fail or just another Stepping Stone? http://t.co/pMuqDvkA SocialEurope Journal: SEJ Article: Creating Jobs in recession-hit Communities in Europe: Why Microcredit will not help http://t.co/zJb4XxJl SocialEurope Journal: SEJ Article: German State Elections send Merkel an Economic Message http://t.co/yVG4Xr5n SocialEurope Journal: SEJ Article: Two dangerous Myths about a 'Grexit' http://t.co/vOhdnVIp SocialEurope Journal: SEJ Article: Finding a Way out of the Crisis – Growth and Employment in Europe http://t.co/Q8JhRRSg 
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