Are Loose Monetary Policies the World’s Best Bet?

Too many countries are trying to pursue the same strategy at once. As the IMF says, “The implications for today are sobering — widespread fiscal consolidation efforts, deleveraging pressures from the private sector, adverse demographic trends, and the aftermath of the financial crisis are unlikely to provide the supportive external environment that played an important role in a number of previous episodes of debt reduction.”   Article

 

Great Women Do Not Need Statues

The European Union (EU) is now having to deal with the consequences of the hubris of the “great Europeans” of a previous generation. The people who created the euro — men such as Helmut Kohl, the former German chancellor, and Jacques Delors, the one-time head of the European Commission — shared Giscard d’Estaing’s eye for the history books. But their dream of leaving a legacy of a United Europe, with a single currency at its core, has turned into a nightmare.  Article