Economics and politics - comment and analysis

Final countdown: Change the EU now – or never

3. July 2018 I Europe

French Finance Minister Bruno Le Maire gave the Financial Times an interview in which he stated clearly that, given the gap in competitiveness between Germany and the other European Monetary Union (EMU) nations, it is “impossible to continue” and that for France the introduction of the euro zone budget is “non-negotiable”. …

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Current account surpluses, jobs, and statistics

27. June 2018 I General

To understand the current trade conflict between Europe and the USA it is important to reassess the political situation of German foreign trade. What’s happening now is nothing new. I vividly remember Larry Summers, then US treasury secretary, telling me at a G7 meeting some twenty years ago that since the early 1980s the American administration had actually given up hope having serious discussions with a German administration on international issues such as balancing trade surpluses or stimulating the global economy. …

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Italy: Going down the wrong path

30. May 2018 I Europe, General

We are entering the next round of events in Italy and the wheels are spinning ever faster as we head for a train crash resulting in the end of the euro and the European Union. Northern Europe and Europhile doubters in the South foaming at the mouth with rage against Italian sovereignty have still again prevented a serious debate about the right course for currency union. …

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