We imagine Ireland is in crisis, yet crisis is relative. Most people in the world would envy our material austerity and be thankful for our endlessly 'collapsing' health service. But with our expectations thwarted and in the anxiety of uncertainty, we are focussed inward. Yet we remain as deluded as ever.
This week's newsletter includes discussion of fracking and of the change in policy on nuclear power by Japan and Germany.
Paul de Grauwe understands the inherent flaws of the eurozone architecture, but he fails in creative inspiration in his proposal to fix it. Only political Union is offered. What about an ECB per capita distribution of euro or a funded job guarantee?
Daniel Gros makes the case again for the Irish government to direct Irish pension funds to sell foreign assets and buy Irish government bonds. Is this the solution? Yes partly - after we 'restructure' bank debt and either leave or reform the Euro.
Julia Levitt sees Hong Kong as a model of smart growth management and land use planning. It’s a city were policy dictates that development must concentrate on only 25% of the land area, with the remaining 75% preserved as open space.
Letter to the Editor printed in the Financial Times 11th May 2011 From Mr Ralph Musgrave. "Sir, According to Martin Wolf, Lawrence Summers (Barack Obama’s former chief economic adviser) is not sure whether an “expansionary fiscal contraction” is expansionary" [...]