Scottish Independence Surge Is An “Own-Goal” For The Austerians

After experiencing a comfortable lead for most of the past several months, Scotland’s UK unionists now find themselves with lost momentum and a new shock poll, which shows the pro-independence Scottish movement ahead for the first time. It represents a … Continue reading

Draghi Surprises With Rate Cuts; Will It Matter?

The European Central Bank unexpectedly lowered all its interest rates to fresh record lows and took its rate on bank deposits further into negative territory, in an effort to keep ultralow inflation rates from undermining the eurozone’s fragile recovery. The … Continue reading

As Italian Political Turmoil Mounts, Will Draghi Be Called Back To Rome?

On August 29th, the Italian government’s legislative engine was reignited – but got jammed almost immediately. The school reform, presented by Italy’s flamboyant Prime Minister Renzi as the government’s flagship and his personal brainchild, quickly got side-tracked, sparking teachers’ outrage … Continue reading

Will Europe Be Pulled Together By Putin?

As we have highlighted recently, business conditions are now clearly faltering in Europe. Euro-zone GDP was virtually flat, partly reflecting some payback for earlier good weather in Germany, but also reflecting a deeper malaise in the faltering French and Italian economies. … Continue reading

Draghi Begins To Question The Stability And Growth Pact

Mario Draghi’s comments at Jackson Hole were quite worthy of comment, especially his call for more “fiscal flexibility” which is in marked opposition to Germany’s pro-austerity stance. Although the ECB President expressed this criticism in the context of retaining the … Continue reading

Time For A New Approach On Unemployment: Government As Employer Of Last Resort

The American economy has made some progress since the days of double digit unemployment, but the level is still unforgiveably high, given that we are supposedly 6 years into a “recovery.  It’s worth pondering fresh ideas as we approach Labour … Continue reading