MADRID | By Sean Duffy | The latest economic outlook from the Organisation for Economic Co-operation and Development (OECD) forecasts a bleak outlook for Europe unless action is taken. The Corner asked Piritta Sorsa, Head of EU and Eurozone surveillance at the OECD about the increased sense of urgency, sovereign bond proposals and the necessity for consensus among Eurozone members.
MADRID | By Sean Duffy | The latest OECD report is increasingly urgent in tone, with Europe the centre of attention. With continued wrangling over in the EU about how best to proceed, the Paris based think-thank has had its say on the ECB’s monetary policy too.
MADRID | The Corner | Monetary policy is practically exhausted, there is almost no room for fiscal manoeuver due to the excess of indebtment… the only possible move for Spain now is “reforming the reform,” as Barclays’ Alberto Vigil commented on Tuesday. The Paris-based think-tank, who as usual warned about the huge unemployment rate and the deflation risk on Monday, recommended increasing consumer, property, and green taxes, and reducing employer contributions to social security for less-skilled workers.
SAO PAULO | By Marcus Nunes via Historinhas | This can be inferred from a speech by Rintaro Tamaki, Deputy Secretary-General and acting Chief Economist of the OECD, who for 35 years worked for Japan´s Ministry of Finance: “The chief economist of the Organization for Economic Cooperation and Development, Rintaro Tamaki, recently gave a talk that should be heard by all Japanese economists and policy makers. He observed that the aim of Japanese economic policy is still mainly about strengthening growth.”
BERLIN | By Alberto Lozano | Europeans never stop listening to ideas for economic reforms. One potentially successful option, with support from Europe’s leading institutions for smaller economies, is the ¨minijob¨.
But are these atypical jobs the solution to move Spain’s 26 percent unemployment rate closer to Germany’s 5 percent?
THE CORNER TEAM | The economic crisis has inflicted devastating damage on the population: there are 15 million more unemployed people in OECD countries than in 2007. Relative poverty is on the rise. Young people are increasingly dependent on their families. Life satisfaction and citizens confidence in the political system has plummeted, mostly in Greece, Italy and Spain. This is the OECD X-Ray of the challenges ahead.
Via Presseurop | Young Europeans won’t enjoy any favorable job perspectives before at least 18 months. As we can see in the last OECD report, the end of the crisis is not here yet. In some countries such as Greece and Spain, unemployment of the under 35 is above 60 percent.
By Julia Pastor, in Madrid | Report and counter-report, this seems to be the general trend in talking about the Spanish economy’s health. Wednesday it was the CEEC’s occasion to present a report. The nation-wide competitiveness council integrated by presidents of the big Spanish multinationals assured that “expected losses in the the banking sector are limited. Since 2007, the industry has assumed €190 billion of them, including implications from last…
MADRID | Former colleagues at the Bank of England will read with some sense of shock what William White told the Spanish financial newspaper Expansión during an interview with one of its editors, Miquel Roig. Or perhaps not. After all, as Roig points out in today’s edition, “‘Central bankers are a strong brotherhood of mutual admiration,’ former ECB president Jean Claude Trichet used to say. William White was the one who dared…
By Julia Pastor, in Madrid | Every country in Europe is holding up against the neverending financial crisis as Germany does, but the country ‘cannot rest on its oars’ in order to keep its role as Europe’s biggest economy. This is the major conclusion from the latest Organisation for Economic Co-operation and Development’s economic survey of German, published in Berlin on Tuesday. It is true that Germany’s strength and economic…