ECB intervenes to clean May’s and Schäuble’s mess

Last Thursday 8 June, on the day the Britons were punishing Theresa May for her mistakes and arrogance, the European Central Bank under Mario Draghi was preparing for a less favorable politico-economic environment and a much longer disinflationary period. Indirectly, Mario Draghi blamed the dying out inflation on the avowed neoliberals, of the kind of […]

Trump beats Clinton but Americans will learn the hard way that the US can’t change with an election

With a large part of voters disgusted from this US Presidential race, which reached unseen before heights of bitterness, hatred, toxic recrimination and another part of Americans ready to contest the result, had Donald Trump lost the race. In the end, he achieved a landslide win and will become the next President of the USA. […]

Gloomy new statistics signify no end to Eurozone’s economic misery

The economic misery of the Eurozone doesn’t seem to have an end. According to a preliminary estimate by Eurostat, the EU’s statistical service, GDP growth in the 19 member state monetary zone during the second quarter of this year was as miser as ever. On top of that, inflation continues to oscillate around zero, while […]

For how long and at what cost can the ECB continue printing trillions to keep euro area going?

Last Tuesday Eurostat, the EU statistical service issued a Press release revealing that the GDP of Eurozone (EU19) and EU28 rose in the first quarter of this year by 1.7% and 1.8% respectively, compared with the same three-month period of 2015. On the yearly developments platform, there is more good news. The same source revealed […]

Conflicting statistics and bad banks haunt the Eurozone

Last week, Eurostat, the EU statistical service, released its flash estimate of the GDP of the first quarter of 2016, finding it, in both the Eurozone and the EU28, to be 0.5% bigger in comparison to the previous period. In the fourth quarter of 2015, GDP had also grown by 0.3% and 0.4% respectively. Does […]

Tsipras doesn’t seem to have learned his “almost Grexit” lesson and Greece faces again financial and political dead end

The teleconference of the EuroWorking Group which took place yesterday is the forerunner of the extraordinary meeting of the Finance Ministers of the Eurozone on May 9 where Greece’s programme review is about to be discussed. The outcome was, as expected, disappointing regarding the agreement between the two sides on the package of basic and […]

To Brexit or not to Brexit: British exceptionalism doesn’t allow any Obama telling Brits what to do

Barack Obama visited the UK last week clearly in an attempt to boost the “Remain” campaign urging Britain to stay within the EU. This move has not yet been exactly measured as beneficial or not for David Cameron’s campaign but has certainly caused several reactions to the British voters about two months before the referendum. The […]

Draghi drafts a plan to donate more money to bankers, the era of ‘money for nothin’ is flourishing

The European Central Bank announced last week that under its extraordinary Asset Purchase Program (APP), it has injected  €712.3 billion into the euro area financial system until January this year. Out of that, €544.2bn are Eurozone government and public entities bonds, bought under the Public Sector Purchase Program (PSPP). This last plan was decided in […]

The Commission sees ‘moderate recovery’ but prospects deteriorate

The European Commission released last week its “Autumn 2015 Economic Forecast”, advertising ‘moderate recovery’ for the European Union and the euro area. Understandably, the Commission wouldn’t dig deeper in the economy, to highlight the negative aspects of the present status and the subdued prospects for next year. For a number of important reasons the executive […]

Why impoverishment and social exclusion grow in the EU; the affluent north also suffers

The European Union which mobilizes its warships to keep the flows of poor and destitute refugees and immigrants out of its supposedly prosperous interior, at the same is impotent to offer to its own citizens not a prosperous life but not even a secure economic and social environment. According to Eurostat, the EU’s statistical service, […]