In German debt and guilt are the same word: Schuld. So, in Germany, debt has a morally negative connotation. Further, the state budget is referred to as “Haushalt”, which is the word for household. Germans equate state finances with those of personal finances, …
Originally posted in German at Makroskop
Translated and edited by BRAVE NEW EUROPE
Pierre Moscovici, who, as European Commissioner for Economic and Monetary Affairs, will probably be the last French Socialist to hold high political office, has written a letter (together with the responsible Vice-President of the Commission, …
I presented a detailed analysis of Turkey’s economic problems some time ago (here in German). The situation is now deteriorating dramatically because the Turkish lira continues to be under enormous pressure and has lost more than a third of its value against Western currencies since the beginning of the year. …
A loyal Makroskop reader recently sent me Hans-Werner Sinn’s TARGET article linked here (here a short version in the daily Frankfurter Allgemeine Zeitung (FAZ), in German) and asked a simple question: “Why is this man writing this? (Professor Sinn used to run the Ifo Institute for Economic Research in Munich). …
