The advent of a Draghi government speaks volumes about the nature of Italian (post-)democracy, and the perverse effects that the euro has had on the country’s economic, social and political fabric… Read More Mario Draghi Is the Problem, Not the Solution
The prominent Left-wing intellectual Perry Anderson has just published a comprehensive and crushing indictment of the EU from its beginnings to the present. Robert Tombs provides a summary for those who might balk at reading the whole 50,000 words.… Read More A Devastating Indictment of the EU
Eurozone slides further into a debt-deflation trap, risking a protracted economic depression in the south and slow-motion insolvency crisis… Read More Deepening Deflation Pushes Southern Europe Closer to a Debt Spiral
Leaks about money laundering, a resurgent Pandemic, China risks, exposure to Turkey’s financial crisis, all in a negative-interest-rate environment that is toxic for banks… Read More Hit from All Sides, European Bank Stocks Swoon to 1988 Low
Saving the Zombies in Europe… Read More What’s to Be Done Now with All These Zombie Companies?
45 million people have been furloughed in Germany, the UK, France, Italy, and Spain, but the “unemployment” rate barely budged because furloughs don’t count. Creating government-subsidized zombie companies & zombie jobs?… Read More Bite the Bullet or Extend & Pretend? Unemployment in Europe
Woe betide Europe’s banks if there is a second wave of the coronavirus… Read More Covid-19 is the Last Straw for Europe’s Broken Banking System
Here’s a clue: the word begins with “a” and ends in “y”. … Read More While EU Leaders Squabble, The Elephant in the Room Remains Unnoticed
Central-Bank Forked-Tongue Syndrome… Read More Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt
A new tsunami of bad debts washes ashore while banks are still struggling with the debris from the prior tsunami of bad debts… Read More Italy Once Again on the Eurozone Worry List
Get ready for the helicopters… Read More Here Is The Stunning Chart That Blows Up All Of Modern Central Banking
Step by step, the EU institutional machine is making the same mistake with the German people that it made with the British people. It is taking a law-abiding and well-meaning nation for granted… Read More The EU Risks Losing Germany If It Picks a Constitutional Fight to the Death, or the Euro If It Doesn’t
