Liars led by junkies
by“In my several decades as a financial and economics commentator – covering banking crises dating back to the early 1970s and the Latin American…
Euro
Revolutionary insights for the eurozone
by David HowdenEveryone seems to be searching for a roadmap for the Euro-crisis. A precedent to guide policymaking and financial decisions would give some assurance that…
The myth of contagion is catching
by David HowdenTalks of contagion risk, despite having a brief respite earlier this year, are back stronger than ever. With Italy dominating the news, the new…
How optimal is the eurozone: Part II
by David HowdenI recently wrote about the inconsistency of the economic arguments for the formation of the Eurozone. The conclusion that the euro was oversold at…
How optimal is the eurozone: Part I
by David HowdenEuropean monetary integration relies on the theory of the optimal currency area (OCA). Successful currency unions generally meet four criteria: A high degree of…
Splendid isolation ?
by Tim Price“Clearly, Field Marshal Haig is about to make yet another gargantuan effort to move his drinks cabinet six inches closer to Berlin.” – Captain…
Preparing for Euro breakup
by Prof Philipp BagusIn this essay we evaluate the alleged costs of a euro exit and propose practical steps to make a withdrawal from the euro as…
The official start of the European transfer union
by Prof Philipp BagusThere are basically three scenarios for the future of the European Monetary Union as I argue in my book The Tragedy of the Euro….
Foreword to the Slovak edition of The Tragedy of the Euro
by Juraj KarpišThe political project of the Euro is in deep trouble. It seems that Friedman’s curse is beginning to materialize. Despite the European Union and…
Detlev Schlichter: Don’t believe the hype! Why the ECB rate hike doesn’t mean anything.
by Steve BakerLet us establish some principles first. Central banks do indeed pose a risk to economic stability but not because their monetary policy is constantly…