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France plans Tobin tax on financial transactions

By Editor ⋅ 31 January, 2012 ⋅ Post a comment

French president Nicolas Sarkozy has announced plans to impose a tax on financial transactions, he said he hoped his move would push other countries into taking action. French president Nicolas Sarkozy says measures he has taken have helped stabilise the economic crisis in France (Link to this video) The French president said a new 0.1% [...]

I Just Got Here, but I Know Trouble When I See It

By Editor ⋅ 2 January, 2012 ⋅ Post a comment

By N. GREGORY MANKIW, CHRISTINA D. ROMER; TYLER COWEN; ROBERT H. FRANK; ROBERT J. SHILLER and RICHARD H. THALER. Believe it or not, times are getting better. At least that’s what the dry statistics keep telling us. Industrial production, G.D.P. — the kind of figures that Washington and Wall Street sweat over — suggest that [...]

European Union summit agreement: the main points

By Editor ⋅ 9 December, 2011 ⋅ Post a comment

EU leaders’ ‘fiscal compact’ to tackle eurozone debt crisis aims to co-ordinate economic policies with a ceiling on deficits. European Union leaders agreed on a new “fiscal compact” to tackle the eurozone’s debt crisis on Friday, but failed to win consensus for it to be backed by a new 27-state treaty after Britain held out [...]

The euro zone: Is this really the end?

By Editor ⋅ 26 November, 2011 ⋅ Post a comment

Unless Germany and the ECB move quickly, the single currency’s collapse is looming. Even as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that [...]

The ECB and the sovereign debt crisis

By Editor ⋅ 6 November, 2011 ⋅ Post a comment

Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the XXIV Moneda y Crédito Symposium, Madrid, 4 November 2011. 1. Introduction. It is a great pleasure and honour for me to contribute to this year’s 24th edition of the Moneda y Crédito Symposium. There is no doubt that advanced economies, [...]

G20 France 2011: Dark outlook piles pressure on leaders

By Editor ⋅ 4 November, 2011 ⋅ Post a comment

Overview. It is crunch time for the Group of 20. If things go well, the Cannes summit will mark the moment the “premier global economic forum” acts to defuse the economic risks being run in the world. The alternative is to allow them to fester, contributing towards another destructive financial and economic crisis. Underlining the [...]

Eurozone crisis: banks agree to 50% cut in Greece’s debt

By Editor ⋅ 27 October, 2011 ⋅ Post a comment

Private investors take ‘haircut’ on Greek bonds in €100bn bailout deal that also strengthens European rescue fund. Europe’s leaders are claiming a victory in the eurozone crisis after agreeing new deals that halve Greek debt and increase the firepower of the main bailout fund to around €1trn. Athens will be handed a new €100bn bailout [...]

Strengthening the Financial Stability Framework of the EU

By Editor ⋅ 21 October, 2011 ⋅ Post a comment

Address to the 2011 Dublin Economic Workshop, Ajai Chopra, Deputy Director, European Department, International Monetary Fund, October 15, 2011. Introduction I would like to thank the conference organizers for offering me the opportunity to talk about how the financial stability framework of the EU could be strengthened. Much has happened since July when I accepted [...]

G20 finance chiefs’ communique

By Editor ⋅ 16 October, 2011 ⋅ Post a comment

The text of the communique issued by finance ministers and central bankers of the Group of 20 major economies after a meeting in Paris on Saturday: 1. We, the G-20 Finance Ministers and Central Bank Governors, met at a time of heightened tensions and significant downside risks for the global economy that need to be [...]

Margin Call is a fine crash movie, but no banker