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The Schwarzenegger solution
In light of the move by the Catalan regional government to suspend social service payments, I thought re-posting this may be worthwhile. The Schwarzenegger solution European politicians seem to have...
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Inter-generational angst in Europe
Here is a post from a couple of months ago highlighting my views on the euro. My base case has been for a euro break up. What struck me was how much this view tended to differ from those I would...
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Thoughts on Europe
Last night I took part in a debate in Sydney on the future of Europe with Graham White of the University of Sydney, who was one of my lecturers (I was a seriously bad student with very little interest...
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Europe’s nation states need nation state solutions
The Levy Institute has written a policy paper entitled The Mediterranean Conundrum: The link between the state and the macroeconomy, and the disastrous effects of the European policy of austerity by C....
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Mariodona: Do hedge funds have the game to take on Super Mario?
I was going to launch into a long explanation of why Mario Draghi has fooled markets so comprehensively but FT Alphaville has done a much better job starting with Mervyn King’s description of monetary...
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A worthy King’s Speech
Mervyn King’s speech to Welsh business people in Cardiff is a significant speech. It highlights a number of important ideas that must be considered if there remains any opportunity of returning to...
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The easing of contagion risk in Europe
One of the key risks to my bullish outlook is further serious disruption in Europe. My base case for Europe is a period of relative calm. As I have discussed elsewhere, Mario Draghi has been successful...
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Poland: the beauty and investment trade off
My wife’s Polish. I’ve known Poles for some time. I’m Catholic: it’s hard to miss them. But I didn’t really understand much of the nation squeezed between Germany and Russia. So over Christmas we made...
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Change requires institutional reform: it can’t come soon enough
There is a chasm between Europe, represented by Brussels and its constituency in the peripheral economies. It is starkly highlighted by the spectacle of Olli Rehn, the Commissioner for Economic and...
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European green shoots – not so much
Mario Draghi, the President of the European Central Bank (ECB), remarked at his most recent press conference that markets should be careful about discounting a European recovery: “the shoots are still...
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