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Tag Archives: Germany

Do central banks rely too much on economists?

If  economics is likened to a religion it is easy to see how it may be viewed as dangerous. It may blind its devotees to the claims of competing world-views. If  economists arrogantly claim that their special insight gives them the right to prescribe policy, it may provide spurious legitimacy for harmful actions. It may lead…
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German power needs global fetters

    One side-effect of the comic opera that is the Hollande presidency of France is to knock it out, at least temporarily, as a serious counterpart to German strength in Europe. That is a coming challenge for the whole international community, not just for the European Community.   Germany is always portrayed as the…
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A North Atlantic trade and currency zone?

David Cameron’s speech threatening to pull the UK out of the EU unless the other members agree to its demands may have started a process of withdrawal that could become irreversible. Although this outcome would be contrary to the stated objectives of the UK prime minister and British government, commentators on both sides of the…
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Why Asia fears new currency war

    The territory will be different – the sides will measure their gains and losses in terms of fractions of  an exchange rate movement rather than yards of muddy land in Flanders. But the implications could be far-reaching. Nothing less than the future shape and health of the world economy is at stake. The…
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Eurozone to lead world out of the money trap?

  There is a long, long way to go. But confidence is gradually returning to the eurozone – confidence that at least a break-up of the eurozone will be avoided (thought his does not exclude the possibility that Greece may leave). The fall in spreads on Spanish and Italian bonds over German bunds is one…
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Will the Euromark be Europe’s Future?

The German government is being told by everybody outside Germany – and by many inside it – to rescue the euro. It must do so, according to the critics, by expanding demand, underwriting the issue of eurobonds, taking responsibility for feckless countries like Greece, bailing out dumb bankers, and backstopping extravagant, irresponsible governments. That is…
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