Articles by JP Marin Arrese
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J.P. Marín Arrese / Looking for any rational clue in the extricate discussion on labour relations seems a hopeless aim. One even wonders why economists still call it a market when it departs so obviously from any standard pattern.
The coalition between the Socialist Party and the extreme left Podemos raised serious doubts on its ability to run the economy. Its agreed platform trumpeted a massive increase in social expenditure, coupled with tax rises plus extensive public regulation in many key markets, ranging from power supply to housing rentals. No wonder it aims now to pedal back to check the foreseeable loss of confidence.
J.P. Marín-Arrese | The Sánchez-led Cabinet will lack any steady support in Parliament for implementing a reasonable policy line.
J. P. Marín-Arrese | Once again, Jerome Powell played down the need for monetary easing in the press conference following the Fed’s rate cut decision. His unconvincing delivery led Mr Trump to heap scorn on his uninspiring performance. For once, his bitter recriminations were fully justified.
J. P. Marín-Arrese | All Brexiteers want is fast delivery and no one better placed than Boris to capitalise on their anger and frustration.
J. P. Marín-Arrese | Against all odds, Draghi has secured consensus over his stimuli package by a cunny trade-off between the subdued intensity of individual measures in exchange of ample coverage. His brilliant brinkmanship as Chair of the ECB facilitates the task of his successor as Ms Lagarde can wait-and-see comfortably cushioned by a strong and comprehensive arsenal relieving her of the need to change course for many months to come.
J.P. Marín Arrese | This motto struck by Bertrand Russell galvanised those opposed to the nuclear weapons race. In his view, surrendering to communism stood as a less harmful choice than the dire prospect of massive immolation in a new world war. Fortunately, we skipped confronting the bad and worst alternatives Mr Russell thought would inevitably emerge.
JP Marín-Arrese | Christine Lagarde’s nomination ensures the ECB will fully preserve Draghi’s heritage. It will certainly deliver a substantive loosening in monetary policy over the coming months. Everyone expects the first move to materialise this week, probably a rate cut. Anything short of a clear message in the coming press conference would deeply disappoint the markets. Whatever happens next Thursday, more robust action will materialise before the year close.
J. P. Marín-Arrese | While betting on such firepower helped to ground the recovery, its ability to deliver a sustained boom seems less obvious.