How abnormal was the stock market in October 2008?

By: Paul De Grauwe, Leonardo Iania, Pablo Rovira Kaltwasser

Last month saw a stock market move with a probability of occurring only once in 73,357,946,799,753,

900,000,000 years. What does this tell us about modern finance?

The depression of 2009

Wrong government policies on both sides of the Atlantic are turning a crisis into a catastrophe.

The death of German corporatism

By: Wolfgang Munchau

It was always clear that German corporatism would not survive the first half of the 21st century. What was less clear was how long this process would last and which form its destruction would take. Two important events last week greatly accelerated that process.

Germany's economic mirage

By: Wolfgang Munchau

2008 will be another good year for Germany, but then the economic performance will significantly worsen. And it has nothing to do with subprime...

Watch out for political change in Germany

By: Wolfgang Munchau

The SPD is shifting to the Left. It is not good for the country, but it is correct tactical decision. I would no longer rule out an SPD-led administration after the next elections.

Some thougths about the future of the euro

By: Susanne Mundschenk and Wolfgang Münchau

Forget Italy, or Spain. The real danger to the long-term sustainability of the euro are the continued ideological differences between France and Germany, which have widened since the start of the EMU in 1999.