If Greece Had Not Existed, Europe’s Leaders Would Have Had to Invent It

δεῖ δ’ αὐτὸν ἐς φάρμακον ἐκποιήσασθαι – He must be chosen from among you as a scapegoat. Hipponax One of the more intriguing aspects of the whole modern Greek drama is the tragicomic way the country seems to be constantly condemned to live out well known themes which come from its own mythology. The latest […]

Is Finland’s Economy Suffering From Secular Stagnation?

“After the Great Depression, secular stagnation turned out to be a figment of economists’ imaginations……..it is still too soon to tell if this will also be the case after the Great Recession. However, the risks of secular stagnation are much greater in depressed Eurozone economies than in the US, due to less favourable demographics, lower […]

Critical Week for the Turkish economy

At first look, the domestic economic agenda looks light this week, with purchasing managers’ indices, preliminary exports and inflation being the main data releases. However, it may end up being the make-or-break week for Turkish assets, and eventually for the economy. The intro. to my latest Hurriyet Daily News (HDN) column pretty much sums up […]

EuroGroup – Money For Nothing And Your Debt For Free?

There’s an interesting question about “analysis” which confronts anyone who seriously wants to engage in it: do you organize your focus around what you want to happen (practical policy emphasis) or do you concentrate your efforts in detailing and outlining what you think will happen? Naturally the closer you are to having an ideological discourse […]

Spain’s “Good” Deflation?

Spain’s domestic economy is booming, or so the story goes, and in no small part this boom comes thanks to the arrival of what is being termed the “good kind of deflation”, the sort everyone would like to have, a world where prices fall, real incomes rise, jobs are created, and everyone gets to live […]

The tsar and the sultan (queen) meddle with monetary policy

Governor Erdem Başçı did indeed save the best for last during his briefing on the Central Bank’s first Inflation Report of the year on Jan. 28. At the Q&A session, he said the monetary policy committee (MPC) would cut interest rates at an emergency meeting on Feb. 4 if annual inflation fell more than one percentage point in January. Here is […]

QE será, será

I always dismissed arguments that the eurozone’s time as an economic power was up, pointing out the strengths of the common currency area. But I finally realized that I have been wrong all along. I start my latest Hurriyet Daily News (HDN) column by explaining why the Europeans do not know how to conduct monetary policy:)- I […]

1 2 3 8