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Workers of the Euro Area Rise Up and Ask for More Pay, Maybe

Tadeo, Maria, Look, Carolynn, (2017), “Workers of the Euro Area Rise Up and Ask for More Pay, Maybe”, Bloomberg Markets, 13 Ιουλίου Euro-area labor representatives are about to test whether the broadest economic growth in years can finally deliver a decent pay rise. Unions in the currency bloc’s largest nations, interviewed by Bloomberg this month, blame lackluster pay gains on dampened expectations among workers since the region’s financial crises, and …Read More

The Politics of Germany’s External Surplus

Fuest, Clemens, (2017), “The Politics of Germany’s External Surplus”, Project Syndicate, 17 Ιουλίου The debate about global macroeconomic imbalances is increasingly focusing on Germany’s current-account surplus and economic policy. Despite the vitality of the German economic engine, and the role it plays in fueling growth and maintaining stability in the eurozone, criticism of the country’s massive external surplus is mounting. As the Economist put it recently, Germany “saves too much and spends too little,” …Read More

Euro area international trade in goods surplus €21.4 bn

Eurostat/Euro area international trade in goods surplus €21.4 bn/14 Ιουλίου 2017 The first estimate for euro area (EA19) exports of goods to the rest of the world in May 2017 was €189.6 billion, an increase of 12.9% compared with May 2016 (€167.8 bn). Imports from the rest of the world stood at €168.1 bn, a rise of 16.4% compared with May 2016 (€144.4 bn). As a result, the euro area …Read More

Credit misallocation during the European financial crisis

Schivardi, Fabiano, Sette, Enrico, Tabellini, Guido, (2017), “Credit misallocation during the European financial crisis”, VoxEU, 18 Ιουλίου There is a widespread perception that under-capitalised banks can prolong crises by misallocating credit to weaker firms and restraining credit to healthy borrowers. This column explores the extent and consequences of credit misallocation in Italy during and after the Eurozone Crisis. Bank undercapitalisation may have been costly in terms of misallocation of capital and …Read More

EU Foreign Direct Investment flows

Eurostat, (2017), “EU Foreign Direct Investment flows”, 18 Ιουλίου According to preliminary results, Foreign Direct Investment (FDI) from the European Union (EU) to the rest of the world amounted to €186 billion in 2016, a sharp drop (-68%) compared with the €585 bn recorded in 2015. In the opposite direction, investment from the rest of the world into the EU stood at €280 bn, down by 41% compared with 2015 …Read More

Europe’s Junk-Bond Boom Triggers Alarm as Safety Nets Weakened

Linsel, Katie, (2017), “Europe’s Junk-Bond Boom Triggers Alarm as Safety Nets Weakened”, Bloomberg Markets, 17 Ιουλίου Europe’s booming junk bond market is provoking alarm among analysts who say investors are letting down their guard and risking future losses. Dutch department store operator Hema BV, home improvement retailer Maxeda DIY Holding BV and supercar maker McLaren Group are the latest in a string of companies that have sold bonds with weaker investor protections, known …Read More

Annual inflation down to 1.3% in the euro area

Eurostat/Annual inflation down to 1.3% in the euro area/17 Ιουλίου 2017 Euro area annual inflation was 1.3% in June 2017, down from 1.4% in May. In June 2016 the rate was 0.1%. European Union annual inflation was 1.4% in June 2017, down from 1.6% in May. A year earlier the rate was 0.1%. These figures come from Eurostat, the statistical office of the European Union. The lowest annual rates were …Read More

Cash Is Dead, Long Live Cash

Wheatley, Alan, (2017), “Cash Is Dead, Long Live Cash”, Finance & Development, 54(2), Ιούνιος Fewer Nordic banks are using cash in their branches. India recently scrapped 86 percent of its banknotes. Korea plans to stop minting coins by 2020. Online payments are booming. The march toward a cashless society, it seems, is unstoppable. Young people especially, as well as the better off and better educated, are increasingly at ease paying …Read More

Laid Low: Inside the Crisis That Overwhelmed Europe and the IMF

Blustein, Paul, (2016), “Laid Low: Inside the Crisis That Overwhelmed Europe and the IMF”, Centre for International Governance Innovation (CIGI), Οκτώβριος The latest book by journalist Paul Blustein to go behind the scenes at the highest levels of global economic policy making, Laid Low chronicles the International Monetary Fund’s role in the euro-zone crisis. Opening with the sensational arrest of IMF Managing Director Dominique Strauss-Kahn during a pivotal point in the crisis, the book …Read More

Is the Shine Off Macron?

Wyplosz, Charles, (2017), “Is the Shine Off Macron?”, Project Syndicate, 13 Ιουλίου Emmanuel Macron is on a winning streak. Within a year, he has gone from inexperienced political underdog, with no establishment backing, to President of the French Republic and leader of a newly created political party with an impressive parliamentary majority. Can he keep it up? Σχετικές Αναρτήσεις James, Harold, (2017), «The Renewal of Europe’s Center?», Project Syndicate, 5 Ιουνίου …Read More