On 29 September 2011, the Bundestag is located on the extension of the euro bailout European Financial Stability Facility. With the continuation of the rescue packages for highly indebted euro states with progressive centralization of economic policy at EU level, however, confidence and stability in the euro zone is not restored in the long term. Readmore…
“The European Central Bank will be as independent as the German Bundesbank. Their independence will be even greater, because it is enshrined in an international legally binding treaty, and not – like that of the Bundesbank -. Can be changed by a simple legislative majority “Such praises were sung at the time of the adoption of the Maastricht Treaty. Readmore…
Many commentators fear that the currency union degenerating to redistribute Union. Less irresponsible governments save by permanently transfers the most wasteful states. The incentives are similar to those of the German fiscal equalization. Thrift pays off, because surpluses are subtracted. Waste will be rewarded with grants. Readmore…
Normally, economists actually say little or nothing about intergenerational equity issues. Too vague, the concept of the term meaningless. How should the war experiences of the one with the environmental problems of another generation and then set off even with the respective pension payment? An impossible task. Readmore…
Nothing is without alternative. There are in the current situation and with a short-to medium-term time horizon to deal various ways, with the European sovereign debt crisis. One of those ways requires to accept the Greek default and let the creditors of Greece make the appropriate depreciation. Jeopardize systemically important banks, then a recapitalization of the banks is to be made. Readmore…
Federal Minister of Economics and Vice-Chancellor Roesler argued publicly for an “orderly state insolvency” to think. He has been criticized by his cabinet colleague, Finance Minister Schäuble, and the public, especially by Chancellor Merkel. His party colleague, Minister of State Hoyer, has criticized the Minister of Economy. Readmore…
On 6 September removed the Swiss National Bank announced that it was only a matter of time before it would come to a trend reversal. The devaluation of the euro and the appreciation of the franc began in 2008 and is continuing steadily since then.A second argument that plays on the grounds of the current action as well as in the intervention period 2009/2010 a role to trigger more expansionary monetary policy impulses. Readmore…
Today is Of the “United States of Europe” spoken by a European economic government and by a European finance ministers. A European joint liability, a financial and a transfer union are to become everyday vocabulary, is being given to their specific content any more. They seem now to be “no alternative”. Readmore…
Perhaps we should think of a dense cluster like a fishing net. At the points in the network, where the threads are firmly lashed together and the nodes very close together, sticks to the most loot. Where the connections are worn out or open up holes, even first loses a fraction of the potential catch flutes, which impacts negatively on turnover and profit. Readmore…
You have to literally read to the end. Only in the last chapter of the last, fifth book of the “Wealth of Nations” Adam Smith comes to speak on the national debt. Read today reading dissolves in the wake of the crisis from € ambivalent feelings: It is comforting to see that the states in the 18th Century were not a whit better than today, but the realization that one can also bring one to despair. Readmore…