Following her address to the 2015 State of the Economy Conference Stephanie Flanders, Managing Director and Chief Market Strategist at JP … Continue reading “Stephanie Flanders on the ECB”

Dr Thomas Mayer, Founder of the Flossbach von Storch Research Institute in Germany and ex-Chief Economist at Deutsche Bank, spoke to … Continue reading “An interview with Thomas Mayer”

Madrid’s persistent pressure for the European Central Bank (ECB) to monetise part of its debt is necessarily a self-defeating strategy. … Continue reading “The ECB cannot save Spain”

Working out who exactly owes what to whom in the eurozone is an increasingly difficult job. Money is pouring out … Continue reading “Illiquid or bust?”

Mainstream macroeconomics presents monetary and fiscal interventions as independent policy options, and this spills over to institutional structures. In the … Continue reading “Economic fundamentals and the eurozone”

The European Central Bank (ECB) sits at the centre of a clearing system (‘TARGET2’) for national central banks (NCBs) within … Continue reading “The ECB cannot hold back the tide of euro credit and banknotes”

Recession in the eurozone could trigger widespread sovereign defaults The eurozone sovereign debt situation is on a cliff edge. This … Continue reading “Eurozone on a ‘cliff edge’, ready to fall”

There is much discussion about how to deal with the indebtedness of eurozone countries. Economic analysis is not straightforward, of course. We always … Continue reading “When it comes to the euro zone, 1+1 = 2: whatever the economists and politicians say”

A second aid package to the Greek government hinges on severe austerity measures. Why doesn’t Greece simply default and leave the … Continue reading “Why doesn’t Greece simply default?”