France, the new Sweden
France has become the Sweden of the 1970s. Both right and left governments have allowed public spending in France, as a proportion of GDP, to exceed that of Sweden at its most critical period.
Articles by Miguel Navascués
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Miguel Navascués
Miguel Navascués
It’s Not Draghi’s Fault If Spanish Banks’ Profitability Is Low
Confusing costs with revenues, or assets with liabilities, is lethal if you are analysing the situation of the banks. It now appears that, according to some so-called experts, the ECB and its low interest rate policy is to blame for the weakness and lack of profitability amongst Spanish banks.
Summers warns Yellen against a rate hike
If it is true that we are in a “Secular Stagnation,” we may need alternative (Keynesian) policies.
August: a month prone to shocks
There has been a severe downward correction in global expectations in August.
Germany approves Greece’s bailout: a reflection
What is the meaning of all this dynamic of successive bankruptcies and bailouts?
Retreat in all markets
China’s unexpected decision to devaluate its currency triggers uncertainty in the markets.
The invisible virtuous circle
Why can’t Spain’s current strong growth be sustainable?
De-stressing about Chinese equities
MADRID | They’ve been scaring us with an eventual China crash which would drag the world’s economy. And yet Daily Telegraph’s Roger Bootle insists there is no reason to panic here. The ratio of tradeable equities to GDP is running at just under 30%, while in most countries it exceeds 100%. See the New York Stock Exchange on the graph.
Financial regulation: Truth Vs Precision
MADRID | May 29, 2015 | By Miguel Navascués | Fortunately the case against the the preponderance of finances over the rest of the economy is gaining traction, as I recently argued here. As usual, FT’s Martin Wolf hits the mark.
Financial paradise
MADRID | May 17, 2015 | By Luis Arroyo | Against all odds, the Dodd-Frank law is working reasonably well, says Krugman. It was enacted by the US Congress in order to avoid another financial crisis like the one in 2008. The economy is divided between those who agree with Krugman that the blame for the disaster was deregulation initiated in the 1980s, with neocons getting power, and those who still believe (or say they believe) that markets are efficient.