This week will probably prove it once and for all: the Europeans are mad. The Americans, on the other hand, although generally considered mad, are finally leaving the Europeans far behind when it comes to economic sense. On Thursday, the ECB Governing Council will meet and, …
I wrote a few days ago in relatively general terms about imbalances in international trade. Now there is increasingly heated debate about the Chinese imbalance, which, according to many pundits, poses a massive threat to the global economy and to Germany. …
In the Financial Times, Martin Wolf noted a few days ago that imbalances in international trade are back on the political agenda. Although Wolf reaches entirely reasonable conclusions regarding mercantilism, he nevertheless states that it is nonsense to claim that the US trade deficits can be eliminated solely through trade or exchange rate policy. …
If there is one constant in Eastern Europe, it is the lack of constancy. Nowhere else are there such frequent changes of government or desperate attempts to form a functioning government through one snap election after another. Bulgaria, for instance, had gone through a striking series of snap elections before the vote two weeks ago at least offered hope of forming a government capable of governing. …
