If Italy fails – and there is a temptation to write ‘When’ instead of ‘If’ – it will be a catastrophe not just for Italy. It will be the end of the Euro as Europe’s currency. It will be the return of the euro crisis on steroids. […]
We are now living in a restless world as the old established orders no longer guarantee order and the old guarantor of the global order, ‘The West’, withdraws. In fact, one could argue that the West is also becoming less Western. It is a philosophy that is giving up on itself. […]
When Merkel finally leaves the political stage at the end of her chancellorship, her party and country will need a long time to recover. […]
Lagarde is about to set a dangerous example for an activist, winner-picking central bank. It is a precedent for the ECB itself – and for other central banks wishing to follow the ECB’s transformation. […]
The reason for the Germans’ current Weltuntergangsstimmung (apocalyptic mood) is economic. A new book promising “The biggest crash of all time” before 2023 tops Amazon.de’s bestseller list. And now the Bundesbank, the country’s central bank, has joined the choir of doomsday merchants with its annual Financial Stability Report. […]
While Brexit dominates the news, another country could become an even bigger headache for Brussels over the coming years. […]
It must indeed be tempting to binge on infrastructure spending as Berlin can now borrow for 30 years at a negative interest rate of 0.11 percent. But should the Germans do so? […]
At the beginning of the century, The Economist famously called Germany the “sick man of Europe”. The way things are going, we are likely to read similar headlines again soon. […]
Unless you have a mortgage or you are the Minister of Finance, it is a world you would not want to inhabit. But for millions of Europeans, that may soon be reality. We can only hope that even after the RBNZ’s next cut, New Zealanders will not contemplate going into the topsy-turvy world the Germans are about to enter. […]
All’s well that ends well. There is a temptation to sum up the resolution of the European Union’s personnel-finding troubles in such a Shakespearean way. […]
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