Tag Archives: euro
January 6, 2018Posted by on
This week on Facebook: My Facebook Newsline in the year 2017 had more than its share of articles (often), memes (more often) and ‘shares’ (even more often) on the consequences of leaving the EU. I declared my ambivalence towards the EU a long time ago and didn’t vote in the Brexit referendum (nor in the consequential general election). I found the implied portrayal of the EU as a light unto the world as disingenuous a representation as that of the notionally democratic regime offered by Brexit. Read more of this post
February 25, 2017Posted by on
This week on Facebook: I keep getting economic reports that any money I may hold is in danger and that those who want to take it from are my government. That my government should seek innovative means of creating inflation is hardly a surprise, the government’s (apparent) wish dispense with money altogether and make all fiat money digital is news. Although digital money is not new concept and in todays economy is synonymous with debt, the trail blazed by a digital money economy will be complex. Not in the least — I believe — because it will lead to greater debt having to be borne by the taxpayer. In a world scramble for economic growth any public administration where all money is digital in form will find it easier to devalue their currency in a sleight of hand inflation, especially when engaged in a currency war to promote economic growth. Read more of this post
September 17, 2016Posted by on
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
August 13, 2016Posted by on
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 what is euphemistically called its aid, regardless of its efficacy to those in receipt of it. Read more of this post
January 28, 2015Posted by on
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
February 26, 2013Posted by on
A recent article in Testosterone Pit asks, Could 87% of the French Really Want A Strongman To Re-establish Order?
January 19, 2013Posted by on
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
July 28, 2012Posted by on
June 23, 2012Posted by on
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
February 24, 2012Posted by on
Not only a tragedy for Greece but a Greek Tragedy. The Eumenides appear in the final part of The Orestian Trilogy, 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.