The fuss over oil prices is once again huge. If you dare to call for calm (which I have done), a shitstorm is inevitable. In a world where many still claim we are rapidly heading towards a transformation that will lead to the complete abandonment of fossil fuels, …
It is quite astonishing: Viktor Orbán’s heyday in Hungary began when, following the end of massive currency speculation (carry trades) that had massively overvalued the Hungarian forint, the forint plummeted and left many homeowners who had taken on debt in foreign currencies (Swiss francs or Japanese yen) due to low interest rates in enormous difficulty. …
Heiner Flassbeck and Erik Münster
In a recent speech, ECB Executive Board member Isabel Schnabel compared the mandates of the European and American central banks and came to the surprising conclusion that the ECB’s singular mandate (namely, to have price stability as its sole objective) is on a par with the Fed’s dual mandate (to pursue employment and price stability as equally important objectives). …
