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Daily News BriefingEuropean Commission sees permanent decline in euro area’s potential output
03.07.2009
Quarterly Report on the Euro Area presents gloomy long-term outlook, and contains a sharp indirect criticism of the bailout policies pursued by Germany and France; a disastrous employment report sends Wall Street 3% lower; ECB tells banks to lend, or else ECB will lend directly; European Commission reports supports central counterparty clearing for derivatives; an industry report, meanwhile, suggests that the future of the European car industry is even worse than we thought. |
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Daily Market Rates
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Eurointelligence Syndicated Column
A crisis wasted
25.06.2009
By: Wolfgang Münchau
Europe did something that it has never done before. It wasted a crisis. After the crisis, the euro area will be the same fair-weather construction as before. One of the consequences is that the survival of the euro area will continue to be a legitimate issue for discussion.
Government debts are unsustainable and desirable
18.06.2009
By: Paul de Grauwe, K.U. Leuven and CEPS
There is no doubt that government deficits are unsustainable. But this does not imply that they are undesirable today. The uncomfortable truth is that in order for private debt levels to become sustainable again, government debt must temporarily become unsustainable.
That Healthy Decoupling
15.06.2009
By: Angel Ubide
Remember the de-coupling debate? It seemed to have been settled by the Lehman collapse, as the world suffered a synchronised downturn. But decoupling is coming back. It is happening, healthy, and badly needed.
It's still coming
05.06.2009
By: Adam S. Posen
In the first of a new series of weekly columns, syndicated to European newspapers, Adam Posen argues that the euro area'a banking sector is a sizeable mess that requires determined policy action.
