Economics and politics - comment and analysis

Germany’s metal workers’ union: Making a success out of failure. By Heiner Flassbeck and Michael Paetz

Germany’s metal workers’ union: Making a success out of failure
By Heiner Flassbeck and Michael Paetz (1)
Germany’s metal and engineering union, IG Metall, claimed to have scored a major success last week. A 4.3 percent pay rise sounds good if you demanded 6 percent with a lot of ballyhoo. …

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Cyclical analysis of the European economy for the summer of 2016: no recovery anywhere. Part 1

Incorrect GDP calculations

The difference between what a knowledgeable observer can deduce from data concerning the European economy and what the official statistics office makes of it is becoming increasingly grotesque. Last week, the Federal Statistical Office reported a growth of German GDP of 0.4 percent in the second quarter of 2016 compared to the previous quarter (see here). …

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