Mario Draghi didn’t do it but Kim Jong-un did

Inauguration of the European Central Bank's new premises on 18 March 2015 in Frankfurt am Main, Germany. Mario Draghi (in the middle) cuts the ribbon. (European Central Bank Audiovisual Services).

Last Thursday, Mario Draghi, the President of the European Central Bank, was unable to move the capital and money markets with his customary monetary policy Press conference in Frankfurt am Main. On the contrary, North Korea’s leader Kim Jong-un, a global castoff, did it the next day just by pressing a button. However, it took […]

Unemployment and exclusion brings EU cities to boiling point

ECB Governing Council Meeting and Press Conference of 2 June 2016 in Vienna. The President of ECB Mario Draghi (on the right) accompanied by the Vice - President Vítor Constâncio explained the Governing Council’s latest monetary policy decisions and answered questions from journalists at a press conference in the afternoon. The ECB is currently pumping hundreds of billions into the euro area banking sector, in the hope that ‘money matters’ and will help the real economy gain a sustainable and robust growth path. If not…

Last Tuesday Eurostat, the EU statistical service release its latest estimates about the April unemployment rate and May inflation in Eurozone, which unfortunately didn’t diverge markedly from the gloomy predictions of analysts. This week however, the same source published a very interesting survey about the labor market situation in EU. It’s a special report about […]

Eurozone’s central bank leadership prepares for shoddier prospects

The European Central Bank, under its President Mario Draghi (pictured here) injects every month tens of billions of newly printed euro into the Eurozone’s financial sector. The target is to revive the fading inflation and bring it towards the target of close to 2%, and by the same token revitalize the real economy. Towards this end the ECB bought public and private sector paper securities worth €85 billion in April under its expanded asset purchase program. (ECB Audiovisual Services).

It has become commonplace to state that the European economy still doesn’t fare well after six years of recession or practical stagnation. For good reasons however in the past few days the horizon looked particularly darkened. Negative statistical evidence and meandering statements by key people are indicative of that. Inflation or rather disinflation statistics, persistently […]

No hard drivers in sight to remodel the stagnating affairs of the EU

Euro Summit on Greece. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), Jean-Claude Juncker, President of the European Commission, Mario Draghi, President of the European Central Bank (ECB), and François Hollande, President of the French Republic (from the left to the right). Date: 22/06/2015. Location: Brussels - Council/Justus Lipsius. © European Union, 2015 / Source: EC - Audiovisual Service / Photo: Etienne Ansotte.

It’s a tautological statement to say that the euro area is an economy which barely moves ahead, towards producing more jobs and incomes for the tens of millions of the unemployed and materially deprived. However, it seems that it’s worse than that. Mario Draghi, the President of the European Central Bank, said it plainly in […]

For how long will terror and economic stagnation be clouding the European skies?

Jean-Claude Juncker President of the European Commission and Charles Michel, Belgian Prime Minister, on the right. Juncker participated at the minute of silence held at the Belgian Parliament for the victims of the attacks in Brussels. Date: 24/03/2016. © European Union, 2016 / Source: EC - Audiovisual Service / Photo: François Walschaerts.

Some days ago the European statistical service, Eurostat confirmed that the inflation rate in the euro area for February was well into the negative part of the chart at -0.2%. This is an infallible sign that Eurozone remains in the stagnation or even the recession region of the economic cycle for a sixth year in […]

ECB money bonanza not enough to revive euro area, Germany longs to rule with stagnation

The President of the European Central Bank Mario Draghi. (ECB Audiovisual Services).

During the days ahead of last Thursday’s 3 December meeting of the European Central Bank’s Governing Council, financial markets and market oriented media had been pressing for a stronger monetary accommodation (easing), than what President Mario Draghi finally announced in the afternoon of that day. As a result, the euro appreciated markedly with the dollar […]

Family incomes stagnate in the EU; people excluded from ‘moderate recovery’

Pierre Moscovici, Member of the European Commission in charge of Economic and Financial Affairs, Taxation and Customs (on the right), gave a press conference on the 2015 Autumn Economic Forecast. He said that the economic recovery in the euro area and the European Union as a whole is now in its third year. On the left Margaritis Schinas, Chief European Commission Spokesman. (Date: 05/11/2015. Location: Brussels - EC/Berlaymont. © European Union, 2015/Source: Jacquemart Jennifer,Shimera ,EC - Audiovisual Service ).

The Brussels Eurocrats are trying to convince us all that the European economy, after the 2008-2010 fallout, is now on the right track towards an era of growth and financial security. However, real people out there are still waiting to taste the benefits of this impalpable improvement. Apart from the fact that Eurostat, the EU […]

How close is Eurozone to a new recession which may trigger formidable developments?

Opening of the photo exhibition entitled ‘I Am Not a Statistic’ organised at the European Parliament, with the participation of Johannes Hahn, Member of the European Commission at the rostrum. (European Commission Audiovisual Services, Date: 30/06/2015, Location: Brussels – European Parliament).

According to the latest statistics published in August by Eurostat, the EU statistical service, the euro area economy grew by a meager 0.3% during the second quarter of this year. Despite the fact that the mere three decimal points of more gross product typically illustrate a positive development for the Eurozone economy, there are other […]

More billions needed to help Eurozone recover; ECB sidesteps German objections about QE

Eurogroup meeting - March 2015. The 19 Eurozone finance ministers meet on 9 March 2015 in Brussels. The President of ECB Mario Draghi (on the left) participates regularly in these meetings. In this instance he talks with the Jeroen Dijsselbloem, President of the Eurogroup. (European Council - Council of the European Union Photographic Library, 9/3/2015).

The Eurozone economy has been taking two steps forward and one step backward over the past few months. The minimal increase of the GDP growth rate to 0.4% during the first quarter of this year and the equally small increase of people in employment was accompanied by a fall of industrial production and a decrease […]

Eurozone at risk of home-made deflation and recession

Pierre Moscovici, Member of the EC in charge of Economic and Financial Affairs, Taxation and Customs, gave a press conference on the Winter European Economic Forecasts for 2014, 2015 and 2016. (EC Audiovisual Services, 05/02/2015, Brussels - EC/Berlaymont).

Tomorrow Tuesday, 5th April, the European Commission will present its ‘Spring European Economic Forecast’ including assessments and predictions about GDP, inflation, employment and government finance for 2014, 2015 and 2016. Good providence made sure that last Thursday Eurostat released its flash estimate of April inflation standing at the edge of zero percent, up by an […]