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.

End of a love affair

Germany is shifting to the left – and foreign investors are shifting out.

Look Beyond the Quick Fix!

By: Johnny Munkhammar

Reforms are not only good economics, but also good politics. Politicians should find solace in the observation that, with the exception of Sweden, reformist governments have normally been reelected.

The death of Hartz IV

By: Wolfgang Münchau

The political failure of Germany's welfare reform programme holds lessons for reforms everywhere in Europe.

Europe's decade of economic reform draws to a close

By: Wolfgang Münchau

The SPD's specular U-turn is a sign that that the Hartz IV welfare reforms have failed. Europe's electorates have regrettably, but logically, concluded that parties advocating economic reforms cannot be trusted.