Click here: http://www.bbc.co.uk/news/business-16679370
Part B: The lure of naive models in the era of financialisation (*) [(*) For the rationale of this four-part series of posts, as well as for Part A of the series, click here.] Preface: Part A of this four-part series of posts began by focusing on the problematic application of the analytic-synthetic method to socio-economic […]
On 12th to 15th April, a conference will be organised by INET on this theme [Axica Conference Center, Berlin]. For the full program, see here. In its context, on the 13th, I shall be participating in the following session. As I am figuring out the content of my intervention, I would welcome your suggestions. Thanks […]
For the second interview click here: Europe as the world’s laughing stock
Headlines the world over ‘agonise’, on behalf of Greece and Europe, on whether the PSI+ negotiations will come to a conclusion. The presumption is that, if they succeed, Greece will be reprieved and Europe (with France and the EFSF having recently been downgraded) will buy some much needed extra time to put, at long last, […]
PSI talks to resume in Athens over the haircut imposed on banks by the EU in October 2011. Back then, Mrs Merkel and MR Sarkozy forced the hand of the IIF’s head, Mr Dallara, to accept the notion of a ‘voluntary’ 50% haircut on the face value of Greek government bonds (except those not owned […]
“[T]he financial problems facing the eurozone are as much a consequence of rising external imbalances and divergences in competitiveness between the eurozone’s core and the so-called “periphery.” As such, we believe that a reform process based on a pillar of fiscal austerity alone risks becoming self-defeating, as domestic demand falls in line with consumers’ rising concerns […]
Tobin’s financial transactions’ tax was a simple, down-to-earth, logical proposal for dealing with the ridiculous volatility that became the norm in the era of the Global Minotaur (my metaphor for the way in which the combination of US trade deficits and capital flows into Wall Street kept the global economy going between the early 1970s […]
A brief history of Greece’s PSI In the beginning there was Wholesale Denial.
Preface: Before 2012 once again embroils us fully into the ongoing saga of the eurozone’s Crisis and its global ramifications, I thought it might be a good idea to start the year on a reflective mood. The topic I chose is complexity and the inadequate responses to it that have landed us in a mire of […]
As 2011 is drawing to a close, with the ECB only having managed to paper over the deepening cracks of the eurozone, it is time to allow ourselves to abandon the barricades for ten days or so. If the soldiers in the Great War’s killing fields could maintain a humane ceasefire, tend to the wounded, […]
In this remarkable short story, Klaus Kastner (Kleingut) offers a fictionalised account of how Europe’s banks channelled billions to their Greek counter parties. It makes for excellent cross reading with my recent take on the Ant and the Grasshopper fable. [Click here for Klaus’ original post.)
A new take on Aesop’s tale, tailor-made for our ‘European Moment in History’, at a time when Europe’s collapse is being guaranteed by the dominance of the wrong narrative. What follows is an attempt at an alternative take; one that is more in tune with a decent future for Europe.
In the interests of fostering dialogue on the issues that matter, I welcome today’s blog entry from long time contributor (and regular critic of my scribblings) Jerry Goldstein. Jerry has a strong background in banking but, and this is highly pertinent, spends most of his time in Athens.