“Germany Remains Firmly Opposed to Banking Union” By Gordon Kerr, Cavin O’Driscoll and Enrico Colombatto, courtesy of IREF In November, Germany’s Finance Minister Olaf Scholz wrote an article in the Financial Times claiming that he had devised a common European Deposit Insurance Scheme (EDIS)[1] that could be acceptable to both sides of the hitherto […]
Tag: deficit
Breaking the “black zero”: Germany has room to spend more
“How much space for fiscal expansion? Germany falls victim to ‘output gap nonsense’” By Philipp Heimberger, courtesy of WIIW The German economy is in a downturn. The growth rate is currently among the lowest in the euro area, and numerous economic research institutes have revised their forecasts downwards. German industry is already in recession. In […]
Are Argentina’s problems really insoluble?
“Why Argentina’s Problems Have No Solution” By Marcelo Duclos, courtesy of PanamPost and Libertad y Progreso Whenever there is a problem that requires a solution, there are two possible scenarios: the problem can be solved and left behind, or we face failure, and everything remains as it is. In an adverse situation, things may actually […]
UK council finances are unsustainable, new model urgently needed
TPA responds to IFS report on council tax By Harry Fone, courtesy of Taxpayers’ Alliance A new report released by the Institute for Fiscal Studies (IFS) has analysed funding for local authorities and made a series of recommendations. Few would challenge the IFS’ argument that the present funding model is unsustainable and alternative […]
“Both parties have abandoned fiscal restraint”
“Both parties have “abandoned fiscal restraint” in favour of more borrowing” By Prof. Syed Kamall, courtesy of IEA Today’s election speeches show both parties have abandoned fiscal restraint in favour of increases in public spending to be paid for through extra borrowing. The Labour Shadow Chancellor has pledged to more than […]
Argentina needs major structural reform to prosper
Courtesy of Libertad y Progreso, via Xinhua Argentina needs to carry out a series of structural reforms, including in labor and tax matters, to return to the path of economic growth, according to an Argentine economist interviewed on Wednesday. Natalia Motyl, an analyst […]
Tories get in touch with their spendy side
While Conservative Prime Minister Boris Johnson isn’t afraid to utter the c-word — that’s “capitalism” — in pleasant contrast to his immediate predecessors, his government seems to be steering away from other longstanding Tory principles, namely those of fiscal responsibility and small government. So […]
Germany must finally spend more, very carefully and precisely
“Notorious” and “prudent” are not words often found together, but it is fair to say that Germany is notoriously prudent with its national finances, thanks to a longstanding rule requiring politicians to balance the federal budget — an unimaginable scenario in virtually any other country. The […]
Anticlimax In The Antipodes: Retracing Argentina’s (latest) debacle
Argentinean President Maurico Macri’s defeat in the country’s national open primary augurs ill for the beleaguered reformer’s program of fiscal responsibility, which Macri himself has already dispatched with a technical default on the country’s bonds as well as the reimposition of capital and currency […]
PRO Labor Act – a disaster in waiting, flexible parent leave & more: WASHINGTON BEYOND THE HEADLINES
By Andy Blom, TES Contributor At Last…Our Senators and Representatives are busy, energetic and hard at work! Unfortunately that’s because they are in recess and off trying hard to get re-elected. Never fear, in a few short weeks they will be back in Washington spending endless hours and countless taxpayer […]