Archive for the Eurozone Category

There’s substance to the Trump team’s trade critique of Germany and the Eurozone

There’s substance to the Trump team’s trade critique of Germany and the Eurozone

President Trump’s administration has made many criticisms of Germany. One of the more important was by his top trade advisor, Peter Nabarro. He accused the Germans of using a “grossly undervalued” Euro to “exploit” its trading relationship with America. The complaint that when the Euro was formed

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A tale of two Eurozones: Greater Germany and Club Med are drifting ever further apart

A tale of two Eurozones: Greater Germany and Club Med are drifting ever further apart

At the end of last week Federica Mogherini met leading members of the Trump administration. Mogherini, yet another Italian politician turned Euro-bureaucrat, is in fact the foreign policy chief of the European Union. She stood on her dignity, or rather the dignity of the European Commission, issuing a

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What Dirty Harry tells us about economic forecasters’ Michael Fish moment

What Dirty Harry tells us about economic forecasters' Michael Fish moment

Economic forecasters are in the dock. Last week, none other than the chief economist of the Bank of England, Andy Haldane, was confessing the crimes of the profession. The failure to predict the financial crisis was, Haldane said, economic forecasting’s “Michael Fish” moment. Thirty years ago, the

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Rampant corruption – not just the euro – has doomed Italy to stagnation

Rampant corruption - not just the euro - has doomed Italy to stagnation

So farewell then, Matteo Renzi! The resignation of the Italian Prime Minister after his heavy defeat in Sunday’s referendum on constitutional reform has created turmoil. Fears have been resurrected about the stability of the Italian banking system, and even the possibility of Italy leaving the euro has

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Look to Twitter for why Britain’s economy proved Project Fear wrong

Look to Twitter for why Britain's economy proved Project Fear wrong

The economic data on post-Brexit Britain is beginning to emerge.  We discovered last month that employment in May to July grew by 174,000 compared to the previous three months.  Last week, the Office for National Statistics published its estimate for the output of the service sector of

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Brexit was the final straw: it’s time to scrap the IMF

Brexit was the final straw: it's time to scrap the IMF

Sports fans will all be familiar with the commentator who almost always gets things wrong. “Arsenal are very much on top here” he – it is invariably a “he” – will pronounce, or “Root is looking very settled”, only for the opposition to score a goal immediately

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Why austerity must be the order of the day for May’s chancellor

Why austerity must be the order of the day for May's chancellor

On the face of it, the Brexiteers have a bit of explaining to do. A week before the vote, Boris Johnson dismissed fears about the value of sterling, and accused the governor of the Bank of England of “talking the economy down”. Yet the economy does seem

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How Stalin’s right-hand man could help the UK in EU exit negotiations

How Stalin's right-hand man could help the UK in EU exit negotiations

The topic of behavioural economics is very fashionable. But many economists remain rather sniffy about it, arguing that it often does not really add to what the discipline already knows. But one of its most distinctive and strongest results from a policy perspective is its emphasis on

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The only way could be down for shares – and Brexit is just the catalyst

The only way could be down for shares - and Brexit is just the catalyst

The Brexit vote creates many uncertainties, exciting or frightening depending on your predilection. One thing which is certain is that the Leave victory was delivered by the less-skilled sections of the electorate. It seems part of a more general stirring up of what we might think of

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The EU referendum has shown just how irrational voters are

The EU referendum has shown just how irrational voters are

Some things never seem to change.  In the mid-16th century, in the course of her short reign Queen Mary, a daughter of Henry VIII, tried to restore Catholicism.  To this end, she arranged to marry King Philip of Spain, at a time when Spain dominated Europe.  The

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