In his documentary “Girlfriend in a coma”, the former editor of The Economist Bill Emmott analyses the reasons for Italy’s insurmountable resistance to the necessary changes and reforms. An attitude it shares with many European countries, it partly explains why Silvio Berlusconi wants to get back in business.
Renowned scholar on EU law, Gunnar Beck was an adviser to the House of Commons, a practicing barrister and a professor at the School of Oriental and African Studies in London. He believes that Germany’s guilt complex and short-term reasoning will lead her to continue defending the euro, while Chancellor Merkel’s policies show that Germany has still not become a properly sovereign and democratic nation yet. This article was recently…
The new set of rules on restructuring and liquidation of ailing banking institutions planned to be approved next Friday confers full command to the Spanish government. The Bank of Spain will exclusively identify solvency failures and pit in place an early warning mechanism to redress potential deviations. But once public money is involved the task is conferred to a formally independent body, the FROB, but under tight governmental control. Politicians…
Famous for his provocative views on international economics and China’s rise, Andy Xie is an independent economist who predicted the Asian bubble in 1997. Based in Shanghai, he is a former Morgan Stanley star chief Asia-Pacific analyst. We interviewed him for our summer interviews on China’s challenges, the eurodrama and his forecast for the future. For Mr. Xie, Wall Street bankers are viewed in China as “a bunch of corrupt…
CAPITAL MADRID, José Sánchez Mendoza.– Pay more, almost double, but with a comfortable loan that covers all or most of the amount. It’s a win-win situation, don’t you think? Though it may seem, this is not the lamp seller in a Moroccan bazaar’s talking but the candy that banks put in front of consumers to get rid of the housing stock that hampers their balance sheets. According to a study…
Asked about what would make them more likely to make capital investments in the next 12 months, 70 percent of U.S. small-business owners point out to three circumstances: a better sales outlook, more certainty about their operating environment, and lower federal taxes. According to the Wells Fargo-Gallup Small Business Index released by Gallup, that has surveyed small-business owners on current and future perceptions of their business financial situations, some of…
Remember when a higher education used to be a guarantee of success in the market? With the crisis, the picture has turned 180 degrees: too many graduates in Europe and the U.S are waiting tables, going back to their parents and coping with frustration. New grads are also facing competition from older, laid-off job seekers. In the case of American youngsters, they also need to repay their loans (see our…
Morning! Today we bring you the last part of our summer series interview with Professor of Economics at Columbia University Martin Uribe. He believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. The lesson we should learn from this crisis is to avoid high capital inflows into a country as happened to Spain from 2000 to 2008. – Several Nobel laureates have decried budget…
By Tania Suárez, in Madrid | Fernando Luque is analyst and editor for Morningstar. In a conversation with The Corner, he said that Greece will not withdraw the euro because “that possibility is no good for anybody, neither for Greece, nor for Germany.” Luque explains that there are no shortcuts to solve the Greek crisis, but that will not necessarily damage other peripheral countries such as Italy or Spain. Question.-…
Professor of Economics at Columbia University Martin Uribe strongly believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. For this expert in macroeconomic analysis, who has worked for many universities and institutions including the European Central Bank, the lack of tax policy at a European level is condemning the least developed countries to beg for aid. Uribe talked to The Corner summer interviews’ series from…