Yes, libertarians’ capitalism has failed
MADRID | By Luis Arroyo | So-called libertarians sell mostly smoke: their conception of individuals isn’t real, their economic model is ideology.
World economy
The US-EU trade talks lose steam
MADRID | By JP Marín Arrese | The real task facing negotiators is tackling the non-trade barriers. Divergent regulation on goods and services represents a formidable hurdle for exporters on both sides of the Atlantic.
Egypt coup endangers its natural resources
By Antonio Sánchez-Gijón, via capitalmadrid | In little more than fifty years, Egypt has gone from being the country with almost absolute power to regulate the use of the Nile, to be forced to negotiate with all countries upstream.
Finally: the ECB would charge banks that leave their money in Frankfurt
MADRID | By Francisco López | In an attempt to end the financial fragmentation of the markets, the ECB makes banks to move their money injected via QE. From now on, marginal lending facility of the ECB would cost them money. The German banks have 100,000 million deposited with the ECB.
July 4: when you travel just to buy your fireworks
NEW YORK | By Ana Fuentes | With July 4 final preparations underway, millions of Americans bought their BBQ coal and burgers days ago. Their flags and beer coolers are all set, as well as their Independence-Day-customized backyards. But what about fireworks? Since purchasing them is forbidden in some states, people travel just to get them.
Snowden won’t find asylum in the EU
By Ray Kwong | Much as he might like to, Edward Snowden won’t be sightseeing in Paris, Rome or Barcelona any time soon.
Is the debt consolidation in the US sustainable?
BARCELONA | By CaixaBank research team | The projected improvement in revenue would not be enough to offset rising outlays, taking federal debt to an alarming 200% of GDP by 2037.
Can espionage kill the US-EU Free Trade Agreement?
NEW YORK | By Ana Fuentes | Half a million phone calls, emails and text messages bugged by the American security agency in Germany over a typical month; microphones at the French, Italian and Greek missions and Embassies in Washington… European leaders are outraged. The last Snowden saga revelations might compromise their trade deal with the US.
It’s time to rethink both Keynes and Hayek… and fix unemployment
MADRID | By Carlos Díaz Güell | The Western world’s unemployment has reached brutal dimensions. There are more than 200 million jobless people around the world, representing 5.9 per cent of the labour force on the planet, according to the International Labour Organisation. Perhaps it is time to retire or rethink Keynes and also–why not?–Hayek and seek new formulas that will lead us out of the tunnel.
The Bank of International Settlements and Mr Caruana
MADRID | By Luis Arroyo | The BIS is one of the institutions that has publicly put more pressure on the US Federal Reserve to change the course of its monetary policy–with disparaging results.