Tag Archives: euro

Helicopter Money


This week on Facebook: Sees me return to economics, yet more history and the despair of an old man who — like all old men before me — thinks that the world is going to hell in a handcart. My first instinct was to ignore articles on helicopter money as it being something that I was incapable of having an influence on (which is true) and finding myself totally confused by the rationales offered by economists and politicians. Nevertheless, the notion of helicopter money made me think of some historic precedents that I believe are valid allusions to its use. Read more of this post

The Troika & The IMF


This week on Facebook: My innate cynicism tells me that that this exercise in flagellation by the International Money Fund (IMF) issuing their critical report¹, is not a pursuit of penance but rather a manipulation of the media. The Moving Finger writes; and, having writ, Moves on:… and so does the IMF. The media criticism of the IMF’s handling of crises mentioned in the report, especially the crisis in Greece and that of the Eurozone, will soon be forgotten as the media also moves on. The IMF will be left to continue dispensing its euphemistic aid regardless of its efficacy to those in receipt of it. Read more of this post

That Odious Greek Debt


Der Spiegel reported in May 2010 that without bribes virtually no foreign company could do business in Greece. In How German Companies Bribed Their Way to Greek Deals, Der Speigel claimed that the money from bribery enriched industrialists, civil servants, the military and politicians.  Read more of this post

Le retour de Napoléon?

A Brussels Effect


Anu Bradford’s ‘Brussels Effect’ is the theme of her article ‘The Global Rise of a Regulatory Superstate in Europe’. Published in the the Globalist she says that the European Union (EU) influences worldwide markets through its regulatory and legal framework, impacting on the everyday lives of citizens around the world by setting global rules governing a variety of areas, such as food, chemicals, antitrust and the protection of privacy. Read more of this post

In Bondage


When the State spends more money than it receives in taxes — a fact indelibly written into the bond — it is deliberately committing an act of bankruptcy. The use of the word investment in connection with a bond issued by the State is a treacherous euphemism. Read more of this post

The Flawed Euro


A fundamental flaw in the initial design of the euro made it unlikely that it could ever succeed and the determination to continue with economic policies, particularly in response to the global financial crisis, have made recovery from that crisis more difficult. A single monetary policy dictated by and serving the needs of the most powerful parts of the European economy, would be less appropriate for weaker parts of the European economy. The Greeks believed that their membership of the euro-zone was the entry ticket to the prosperity that the stronger members enjoyed. Encouraged by the apparent guarantee of support from those stronger members to take advantage of the asset inflation created by easy Europe-wide credit, ignoring the potentially damaging concentration of productive capacity in Europe’s industrial heartland that a single economy made inevitable.  In the longer term, when the periphery of the wider European economy began to slow down – even to close down – this was bad news even for the central core, whose markets would be less buoyant and whose obligations to weaker members would be likely to increase – because the euro would eventually handicap the whole European economy. Read more of this post

EUmenides


Not only a tragedy for Greece but a Greek Tragedy. The Eumenides appear in the final part  of  The Orestian Triloy, a Greek tragedy  written by Aeschylus  around 500BC.  The Eumenides was a euphemistic name given by the Greeks to the Erinyes (Furies:Latin).  Eumenides means ‘the benevolent ones‘ and was a term used by the Greeks to avoid invoking the wrath of  the Erinyes (the avengers of wrong).

Greek Tragedy is a literary composition in which a central character, acting as the tragic protagonist or hero, suffers some serious misfortune which is not accidental thus rendering it meaningless, but is logically connected with the central character’s actions. Greek Tragedy stresses the vulnerability of human beings whose suffering is brought on by a combination of human and divine actions, but is generally undeserved with regard to its harshness.

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From Greek fable to Greek myth


Greek economist Yanis Varoufakis writes for Channel 4 News about why the Euro crisis should not simply be seen through the prism of a famous Aesop fable. Read more of this post

Dinner for One (Euro-style)

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