Proportion of the population at-risk-of-poverty or social exclusion, 2011 Social exclusion and poverty has been a constant danger for a very large part of our modern western societies. It is understandable that while the economies grow this danger recedes and the opposite is true in recession. To measure however the danger of social exclusion and […]Poverty and social exclusion skyrocket with austerity
May 29, 2013 by Leave a Comment
Proportion of the population at-risk-of-poverty or social exclusion, 2011 Social exclusion and poverty has been a constant danger for a very large part of our modern western societies. It is understandable that while the economies grow this danger recedes and the opposite is true in recession. To measure however the danger of social exclusion and […]When is Berlin telling the truth about the EU banking union?
May 27, 2013 by Leave a Comment
In a rare but not quite unexpected move, the German Federal Minister of Finance Wolfgang Schäuble has reportedly wrote a letter to his colleague, the Federal Minister of Economics Philipp Rösler, proposing that their two ministries cooperate in supporting the Eurozone countries under distress. To do this, he tells his government fellow, they should use […]Eurozone cannot endure any longer youth marginalisation
May 20, 2013 by Leave a Comment
The 3239th EU Council meeting was devoted to Education, Youth, Culture and Sport and as usually the Presidency, this semester held by Ireland, very happily presided over it. The Irish Minister for Education and Skills, Ruairí Quinn T.D. said “I am particularly pleased that we have adopted these Conclusions today. There are still too many […]Inflation and interest rates indicate urgent need for action
May 2, 2013 by Leave a Comment
Inflation indices are a measure not only of the rate of change of consumer prices. In organised economies like Eurozone inflation is a good indirect measurement of economic activities. A bit more inflation above the benchmark of 2% is a good indication that the economy is growing, the opposite for measurements below that level. Inflation […]Italy solves the enigma of growth with fiscal consolidation: The Banking Union
May 2, 2013 by Leave a Comment
The new Italian Prime Minister, Enrico Letta, after his government got full approval from the country’s legislators in two days and two trips to Berlin and Paris, managed to confirm the reputation of Rome as the catalyst of historic European developments. The Treaty of the European Union was signed in the eternal city. In less […]Recession: the best argument for growth
May 1, 2013 by 1 Comment
A cascade of negative Eurozone statistics yesterday wouldn’t let the euro area social partners celebrate at ease today the 1st May labour day, because it is now proven beyond reasonable doubt that the seventeen member state euro money area is heading fast, towards a new and long recession, unless the applied austerity policy mix is […]Three countries losing ground and one new prime minister
April 29, 2013 by Leave a Comment
Three countries losing more economic grounds and one new prime minister was last week’s stock taking in Eurozone. Meanwhile the real economy and more so the Small and Medium Enterprises in the south of Eurozone were found in a much worse position during the last six months ( Oct 2012- Mar 2013), in relation to […]Italy can stand the US rating agencies’ meaningless degrading
March 11, 2013 by 1 Comment
Last Friday the Fitch rating agency downgraded Italy’s long term creditworthiness to “BBB+” from “A-“, with negative outlook. The American firm did that with a delay of many days after the Italian elections, citing as reason the unconventional results of the vote. It is important to note however that capital markets themselves, after the initial […]The Italian crisis may act as a catalyst for less austerity
February 28, 2013 by Leave a Comment
The Italian political stalemate which threatens the financial stability of this country and risks to shake the Eurozone through the contagion effect, has not prompted Germany to relax its tough position vis-à-vis the euro area debt crisis and the severe austerity measures favoured by Berlin. As a matter of fact, Wolfgang Schaeuble, the German minister […]Let the Italians have it their way, it may be good for all Eurozone
February 27, 2013 by 1 Comment
The large size of the Italian sovereign debt, in the region of €2 trillion and its refinancing torments now the minds of all Eurozone political leaders. The same is true for capital market investors, who showed a remarkable cold-blooded attitude yesterday, after it was certain that no single political party can formulate a viable government […]Italian electoral results to change Eurozone climate and weight on the Cyprus issue
February 26, 2013 by Leave a Comment
Dr Wolfgang Schäuble, the German Federal Minister of Finance insisted yesterday that Cyprus is not a “systemic” member country of Eurozone. Given that Schäuble expresses authentically and exclusively the paymaster Eurozone and all country bailout programme in the euro area, the plan to save Cyprus from the blunders of its own banks, will be quite […]European markets itchy with short-term disturbances
February 5, 2013 by Leave a Comment
European markets had a very bad day yesterday, Monday 4 February. During the first hour of business bourses all over Europe, the euro included, had a discouraging start. The largest losses were monitored in the Paris stock exchange, with the CAC index losing around 3%, a large percentage change for a prime market. In view […]Draghi hands over to banks €77.7 billion more
January 10, 2013 by 1 Comment
The European Central Bank lent but in reality handed over yesterday 9 January a total amount of €77.7 billion to a number of Eurozone banks, under an arrangement called Main Refinancing Operation (MRO) at the negligible interest rate of 0.7% for a duration of 7 days. This is however the upper side of the iceberg. It’s […]Is the EU denying its social character favouring a banking conglomerate?
January 9, 2013 by Leave a Comment
It’s very annoying or probably preposterous to watch the European Commission playing with peoples’ misery. How else can one explain, that the executive arm of the EU after having observed in its yearly review on “Employment and Social Situation in 2012”, that living conditions in Europe have become unbearable for a fast increasing part of […]Eurozone: Black economy loves the South
January 7, 2013 by Leave a Comment
Black economy has been traditionally the weak point for a number of European countries in the South of the Old Continent. Greece, Italy, Spain, Portugal, Cyprus and Malta to name only the Eurozone countries with black economy percentages around 20%, are usually on the head of European Commission’s country lists with economic activities outside […]Should Europe be afraid of the developing world?
January 4, 2013 by Leave a Comment
China and India are undoubtedly the two heavyweights of the developing world. On their foot-steps one can categorise also Indonesia, Malaysia, Thailand, Vietnam and some more countries of South East Asia. Yes, those are the tigers of growth, based on the iron willingness of their people to secure a more or less comfortable life, after […]Eurozone: Austerity brings new political tremors
January 3, 2013 by Leave a Comment
The new political stalemate in Portugal – after the President of the country send the 2013 government budget to the high court questioning its constitutionality – casts again doubts over Eurozone’s ability to manage the austerity policies needed, to secure a viable politico-economic path. In more detail, yesterday Wednesday 2 January, the Portuguese President Anibal Cavaco Silva, […]Brazil: A strategic partner for the EU
November 18, 2012 by 1 Comment
Brazil is one of the largest democracies of the world, and the offshore oil findings of the past few years, have helped the country become not only self-sufficient in hydrocarbons but also draw millions of its people out of poverty. The country is grouped by OECD to the BRICs (Brazil, Russia, India, China), constituting the […]
