The long and slow-stunted recovery of the eurozone economies is a major source of concern for the IMF and international bankers. Six years after the collapse of Lehman Brothers signalled the onset of the…
The latest round of talks between Greek ministers and the financial institutions managing the largest loan a country has ever taken have just ended in Paris. It might seem odd that the latest talks to…
Harald Sander, Cologne University of Applied Sciences (CUAS)
In July 2012 European Central Bank president Mario Draghi famously announced that the ECB would do “whatever it takes” to rescue the Euro. And he added: “Believe me, it will be enough.” In fact, it has…
We are in a new phase of the post-crisis world. Growth is disappointing with Italy in recession, France close to it, and even Germany lagging. It is a useful reminder that recovery in a debt-overhang economy…
With France remaining economically stagnant, Italy falling back into recession, and Greece and Portugal still struggling to stand on their feet, the international community often looks to Germany, not…
It’s not unusual for central banks with economies to revive to let their interest rates go negative in “real” terms by keeping them below the rate of inflation. The eurozone, the US and the UK have done…
I was trained as an economist, but that does not mean I think economics determines absolutely everything. However on occasion the impact of economic factors proves so strong that the causality is obvious…
What do the latest growth figures teach us about Europe? First, the overall growth performance of the European Union is worse and more fragmented than expected. GDP in vulnerable countries such as Greece…
Europe is back on the agenda in Scotland. William Hague wrote to the Scottish government calling for a plan B in case EU membership is refused. Meanwhile Alex Salmond warned EU member states that there…
The World Bank’s Global Economic Prospects report released this week is moderately optimistic about the short-term outlook of the global economy. World Bank economists anticipate an improvement in most…
In recent weeks there has been a spate of good economic news emanating from Ireland. The most significant was that in the latest 12-month period, employment increased by around 3%, an exceptional and surprising…
One of the most exciting things about working at the LSE is that we get to hear some of the world’s top thinkers and policymakers. One occasion that I recall vividly is the visit of two great Europeans…
The EU has made progress on the construction of a banking union, by agreeing on common rules for dealing with failed banks. The downside is that these rules won’t kick in until 2015: the Eurozone faces…
Harald Sander, Cologne University of Applied Sciences (CUAS)
The EU Commission’s autumn economic forecasts are due tomorrow. What makes this event special this year is that there are rumours about a possible change in the Commission’s approach to calculating the…
The eurozone crisis appears to have a new victim: Slovenia. To avoid the need for a bailout, the IMF has called on the country to immediately recapitalise its banks. This should worry the rest of Europe…
Harald Sander, Cologne University of Applied Sciences (CUAS)
Finally good news from the Eurozone! According to recent Eurostat estimates the combined economy of this troubled region grew by 0.3% in the second quarter of 2013 after shrinking for six subsequent quarters…
The IMF has conceded that mistakes were made in the way the first Greek bailout in May 2010 was handled. Its report suggests the need to refine the fund’s lending policies to accommodate for conditions…
The desperation the Cypriot government finds itself in cannot be exaggerated. In the scheme of things, it seems small, but the nature of each Eurozone crisis is that the small problems are often the largest…
Harald Sander, Cologne University of Applied Sciences (CUAS)
Last week the German government’s economic forecasts for 2013 have made clear that the Euro crisis will have a serious economic impact on Germany, with the economic growth projection cut down to a mere…
Different year, same crisis. Around this time last year, the United States was looking down the barrel of economic disaster with the debt ceiling. As we approach 2013, it peers over the fiscal cliff. That…