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With the European Commission seriously considering a tax on financial transactions (sometimes referred to as a “speculation tax”), the opponents of such a tax are shifting their campaign into high gear. We are hearing predictions of disaster from the financial...
The G20 is no more legitimate than its progenitor the G7 (Canada, France, Germany, Italy, Japan, UK and USA). It was launched by the industrialized countries three years ago when they were beginning to feel the effects of the biggest economic crisis since the 1930’s....
As the leaders of the eurozone struggle to contain Europe’s financial crisis, big question marks are appearing both over whether the euro will actually survive as a single currency and over whether the euro crisis may split the European Union (EU) politically into two...
“THE CRISIS OF 2007-2009, coming from the U.S. core of the globalized system, the crisis that threatens the weak links of the euro, and the third crisis that started to affect Eastern Europe in 2009 have a major common point. Whether we are talking about the United...
Following Tunisia’s first fair and free elections on October 27, the Western media responded with a characteristic sense of fear and alarm. For many, it seemed that the ghost of the Islamic menace was back to haunt ‘Western values’ throughout the Arab world. The...
The economic crisis that has shaken the world may have started in Wall Street but it has been made much worse by the actions of both the European institutions and European member states. Much of the so-called debt crisis was caused not by states spending too much, but...
During the three years that have elapsed since the collapse of Lehman Brothers in 2008 –an event which heralded the most serious global financial crisis since the 1930s – CEPR’s policy portal Vox, under the editorial guidance of Richard Baldwin, has produced 15 books...
The ongoing eurozone crisis is often projected in the media, somewhat superficially, as wholly the product of Greece's financial profligacy. There are, however, more fundamental reasons for this turmoil. The causes are to found, as the following analysis shows, in the...
Answer: what do you think they've been doing? On Monday, the Greek Prime Minister announced that his government would hold a referendum on the latest Euro austerity package. And look at the reaction to this ostensible democratic naivete. Stock markets slide...