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Euro

Brace for European financial Armageddon

Not even Friedman could have foreseen a systemic, multi-layered crisis as the one we are witnessing today. And though he predicted the euro’s eventual failure, he did not tell us what would happen afterwards. We still do not know the answer to that. But we will soon find out. Brace yourself. [...]

Trapped in a low-interest environment

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. [...]

Draghi’s difficult legacy

Mario Draghi might be remembered as the central banker who defended the euro while planting the seeds of its eventual destruction. [...]

Monetary policy isn’t a panacea

In the wake of the financial crisis power shifted from politicians to the ECB, now it’s time for elected governments to address the underlying causes of Europe’s malaise. [...]

Why Greece is back in crisis mode

Amid all other crises plaguing Europe at the moment, the financial problems engulfing Athens had temporarily slipped off the front pages. However, it was only a matter of time until they resurfaced. [...]

The opposite of Greece

The result of the Portuguese election suggests tough reforms and fiscal austerity can eventually pay off - politically and economically. [...]