A less leveraged banking sector has helped Canada to find its way towards economic recovery. But the more aggressive monetary policies of its central bank also explain the success in dealing with the current crisis.
Articles by Miguel Navascués
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Spanish president Mariano Rajoy’s reluctance is more than understandable because there is no assurances about the reach of the OMT operations, nor their effects. Moreover, Brussels has recanted more than once, already.
German pro-austerity forces, allied with their Spanish collaborators, are managing the crisis with a strong hand, but in exactly the wrong direction.
The extremists of the Tea Party have ruined the Republican Party and threaten now with bringing to a halt the Congress and the government. Economic indicators are already signalling danger.
Constantly struggling to keep up with the austerity imposed by the Troika, Greece has managed to cut public spending much more efficiently than it’s acknowledged. Economic recovery, though, is still nowhere to be seen. The IMF is right to rethink the current policies before it is too late.
Economist Luis Arroyo reminds ECB governor Mario Draghi of his predecessor’s mistakes in blindly fighting inflation when it was economic growth what was, and still is, at stake.
Madrid is confident that external trade almost alone can make the economy to revive. In truth, the Spanish economy is adjusting. It is fair to say that Spain still has economic muscle, but the real picture isn’t good unless credit flows again.
There are as many ways to stop one more country to follow Greece’s steps as European politicians’ excuses not to act upon them. Economist Luis Arroyo names them one by one.
The US elections are surrounded by more uncertainty that ever before, and most of it comes from the Republican candidate. Mr Romney’s economic policies are an unknown-unknown.
In economist Luis Arroyo’s view, the Spanish Treasury would have made two mistakes that hit hard the economy: too high a VAT rate, and too expensive energy bills.