Articles by Miguel Navascués

About the Author

Miguel Navascués
Miguel Navascués has worked as an economist at the Bank of Spain for 30 years, and focuses on international and monetary economics. He blogs in Spanish at: http://

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The strange case of the Irish promissory notes

Is Ireland such a good model to follow as Brussels would like the rest of the euro periphery to believe? The latest financial creative engineering to trim Irish public debt tells us that reality is quite different, and the eurozone still needs to find a long-term programme to solve its problems.

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Why we need growth now

Public spending can be cut down particularly when there is growth and economy expands. One has only to look at the US’ GDP to learn a powerful lesson: austerity untimely implemented does more harm than good.

Green religion means expensive gas prices

Why has gas prices in Europe escalated up so much more than in the US? Why should taxpayers fill the gap when politicians play with green magic that turns unaffordable? Renewable energy sounds right but costs should be explained.

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European austerity, the most feared

Austerity is increasingly becoming a danger, not only for the euro peripheral economies, but for the rest of the developed economies, too. Will the European Central Bank take action?

The Irish economy’s riddle

MADRID | This year, the budget cut therapy ordered by Brussels upon the euro area’s weakest economies will have to pass an exam in Dublin. If the Irish economy burdens itself with more public debt while missing growth, the failure could make current European Union policies untenable.