Archives for

eurozone

And the Weak Suffer What They Must?: Europe, Austerity and the Threat to Global Stability by Yanis Varoufakis – review

This book is well worth reading if you're interested in how the Eurozone got into such a mess, although it ignores a very important source of financial instability - the relationship between money and energy - and it paints an overly rosy picture of the role that the US has played in the global economy over the past century. By Caroline Whyte.

Viral Speech by George Soros Speech – “the authorities have a three months’ window during which they could still correct their mistakes”

This speech has been causing consternation amongst economists and investors. I suppose it is because Soros is telling the truth of the situation as he sees it stripped of wishful thinking. You will see that Europe is likely to experience an eventful three months at the end of which things will have changed fundamentally - whether for better or worse is impossible to say. I think that Soros smart as he is, may not have spotted a third outcome - that of the recognition of the Euro as a social commons and the ECB as its trustee. [...]

Auerback Says Germany will stay in the eurozone but one re-fashioned in its own image

Marshall Auerback on Germany's choices and the likely outcome. So whilst many Germans might think they want a smaller, more cohesive euro zone without the troublesome profligates, the policy elites in fact recognize that a 'United States of Germany' under the guise of a United States of Europe, actually suits their aspirations to dominate Europe [...]