Es klingt absurd: Deutschland schultert in der existentiellen Krise der Währungsunion Risiken von Hunderten Milliarden Euro – doch wir gelten nicht als wohlmeinende Führungsmacht, sondern stehen als „Euro-Nazis“ am Pranger. Wie konnte es bloß so weit kommen? (Von Henrik Müller)
“It takes a passionate disregard for the truth to suggest that Greece is recovering.” That was my verdict last December upon being asked to comment on Greece’s rumoured recovery. Almost three months later, it is time for an update. The gist of today’s update is depressingly simple: Still, no sign of Greek-covery whatsoever. Indeed, every…
ECB president Mario Draghi, however, has outdone himself. Even prior to candidate president François Hollande’s official proposal of a “Growth Compact”, the ECB president took over the initiative by offering his own version to the European Parliament. As could be expected, the ECB’s version of such a “Growth Compact” is based on the idea of structural labour market reforms, thereby making explicit reference to the German Hartz reforms.
Einem heftig im Internet herumgeposteten Essay verdanke ich den Hinweis auf einen ziemlich sensationellen Kommentar von Charles Moore, einer der großen Zentralfiguren der britischen Konservativen. Moore, Reagan-Anhänger der ersten Stunde und der offizielle Biograph von Margaret Thatcher, gesteht hier, dass er beginne, zu denken, „dass die Linke vielleicht doch Recht hat“.
Economist Nouriel Roubini says the risk of a global recession is greater than 50 percent, and the next two to three months will reveal the economy’s direction. In an interview with WSJ’s Simon Constable, Roubini also says he’s putting his money in cash. This is not the time to be in risky assets, he says.
Vicky Skoumbi est rédactrice en chef de la revue grecque de philosophie, psychanalyse et arts Alètheia et co-auteur de l’appel « Sauvons le peuple grec de ses sauveurs ! » paru mardi 21 février dans le quotidien Libération.
The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews.
Pubblichiamo un'anticipazione dal nuovo numero di Le monde diplomatique/il manifesto in uscita il 14 febbraio 2013 con il quotidiano.di Alexis Tsipras, da il manifesto, 6 febbraio 2013Febbraio 1953. La Repubblica federale tedesca (Rft) è schiacciata dal peso del debito pubblico e minaccia di
Ratingagenturen sind überflüssig, weil sie Wissen über Staaten vorgaukeln, das sie nicht haben. Weitaus gefährlicher aber sind jene eutschen Politiker, die ihnen blauäugig folgen.
A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status. (By Paul Krugman)
The debt agreement should finally make clear to Europeans that Barack Obama is not the progressive President they had hoped for. Instead, writes James K. Galbraith, he is a willful player in the Washington politics game.
Das neue Konzept, mit dem Bundesfinanzminister Wolfgang Schäuble die Auslandsschulden Griechenlands “sanft” umschulden will, geht offensichtlich zurück auf einen Vorschlag der Deutschen Bank.
Der Redaktion MONITOR liegen entsprechende Papiere vor. Die Vorschläge der Deutschen Bank wurden demnach fast deckungsgleich in das Konzept des Bundesfinanzministeriums übernommen.
Our leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched. (By Warren E. Buffet)
Contrary, to orthodox “win-win” theory, globalization is a highly asymmetrical phenomenon. Initially, it creates far more producers than consumers. It also results in extraordinary imbalances between nations with current account deficits and surpluses. And it has led to a widening disparity of the returns between labor and capital. Does this mean that globalization is inherently unsustainable? Probably not. But it does mean that the most destabilizing phase of this mega-trend could well be close at hand.
Die Funktionsfähigkeit westlicher Demokratien wird gegenwärtig ernsthaft auf die Probe gestellt: Kann die ökonomische Krise in einer Art und Weise bewältigt werden, die der Lage der großen Mehrheit der Bevölkerung Rechnung trägt, oder müssen die Interessen der Banken, die die Krise durch ihre verantwortungslose Nutzung der Sekundärmärkte erst auslösten, stets privilegiert werden?
Die Herabstufung der USA tut der Beliebtheit amerikanischer Staatsanleihen keinen Abbruch. Das zeigt: Size matters. Eine Gemeinschaftsanleihe würde die Bewältigung der Euro-Krise erleichtern. (von Barbara Schäder)
R. Lansbury. Journal of Industrial Relations, 51 (5):
599-616(November 2009)The Kingsley Laffer Memorial Lecture, University of Sydney, 16th March, 2009.
K. Busch, M. Flore, H. Kohl, and H. Schlatermund (Eds.) Pontypool, Wales, Merlin Press, (2011)Beitr. aus dem Dt. übers. Originaltitel: Europa in sozialer Schieflage.