EU Nobel Peace prize: check the small print
Although the European Union has a consistency of its own, the Nobel Committee may well see risks in the drawn-out process of more and more austerity accompanied by less and less growth.
Articles by Luis Marti
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Luis Marti
Luis Marti
Myths and legends of TARGET 2
Luis Martí, in Madrid | It stands for Trans-European Automated Real-time Gross Settlement Express Transfer. TARGET2 is a key payment mechanism to European monetary union because it allows all transactions denominated in the common currency to be implemented as easily between member countries as within one country. Otherwise, it would be difficult to talk about common currency. Since the effects and implications of this mechanism are the subject of heated controversy,…
All sorts of Eurobonds
By Luis Martí, in Madrid | Amid the recent flurry of proposals for restructuring of the euro zone and opinions on its decomposition, seasoned with all sorts of half truths, two reports –one of the European Commission, by order of Parliament, and one of the Council of Economic Experts which advises the German government– have seriously dealt with the viability of Eurobond-based-solutions. The Commission's report was published late 2011 as a…