Eurostat overturns Commission’s assessment of the economy

Last Friday 28 November Eurostat did it again. Almost simultaneously with the presentation of Commission’s “Annual Growth Survey 2015”, disingenuously entitled “A new Momentum for Jobs, Growth and Investment”, the EU statistical service published its frustrating flash estimate of November inflation rate down to a mere 0.3%. Positively this new dive of inflation closer to […]

Draghi, Letta: All Eurozone countries must be able to borrow like Germany

The reduction of European Central Bank’s basic rate from 0.75% to 0.5 % was the less important news from Bratislava, Slovakia, yesterday where the governor of the central bank, Mario Draghi, presented the decisions of the bank’s Governing Council and answered questions from journalists. Not even the possibility of a new interest rate cut soon […]

Our present and future tax payments usurped by banks

According to Eurostat, the EU statistical service, tax payments in absolute terms, kept rising in the Eurozone after 2009 and surpassed the pre-crisis levels in 2011. Given that all along this period most of the euro area member states applied austerity measures, by cutting social spending, it is common knowledge by now that the extra […]