A curious coalition of exporters, newspaper commentators, Labour, the Green Party, and New Zealand First wants the RBNZ to relinquish its traditional focus on inflation. Instead, they want the central bank to intervene and curb the rising exchange rate of the kiwi dollar. […]
The euro remains a zombie currency which condemns half of Europe to prolonged misery while locking the other half into a liability union it never signed up for. And with the ECB actively joining the currency debasement race, the euro also becomes more dangerous for global monetary stability. […]
No, Germany’s highest court did not provide its unqualified seal of approval to the ESM, the Fiscal Compact let alone the ECB’s monetary activism. What it actually did was create enough loopholes for a future German government to pull Germany out of the eurozone. […]
No doubt New Zealand is an attractive country – even those Europeans who knew little else about New Zealand knew that. But are we doing enough to attract the best migrants to our country? Or are we happy for them to migrate to Canada, the United States, Asia or Australia instead? […]
The ECB now occupies a bizarre position in the pseudo-democracy of the EU. On the one hand, it has the power to compel struggling countries to implement austerity policies, cut their welfare states, reform their labour markets and change their tax systems. On the other, it effectively forces the stronger economies of Europe into a de facto liability union as all the ECB’s risky bond purchases are ultimately underwritten by the taxpayers of countries such as Germany, Luxembourg and Finland. […]
Countries such as New Zealand should study the European experience closely. You cannot become prosperous by redistributing wealth. Any successful society needs a strong private sector. And you also need it to pay for the services delivered by the state. […]
Being an economist is tough. You can’t even enjoy a beer without considering the macro-economic consequences. I just discovered my local New World is now stocking Flensburger Pilsener. […]
As much as one can understand why liberal economists would like to use the euro as a catalyst for economic reforms, it may result in the precise opposite. But if there is one place where a little liberal daydreaming is allowed, it is the general meeting of the Mont Pelerin Society. […]
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