In 2010-2014, the EU was the scene of a major fiscal crisis. Since then, nobody has treated the root cause, only the symptoms. Therefore, it is no surprise that history is about to repeat itself.
France’s political elite is out of time: they must form a sustainable government and start fiscal consolidation, or the country risks an economic crisis at least as severe as the one 15 years ago.
In a smart debt-management move, the government of Hungary sells treasury securities in China. This sheds new light on European political and economic risk-taking.
The government in Lisbon can brag about having eliminated its budget deficit. How does this benefit the economy—if at all?
Comparing the market and par values of sovereign debt may seem like a dry exercise, but it reveals critical insights into the European economy.
Prime Minister Orbán recently confirmed that Hungary has no intentions of joining the euro zone. This is one of his best and most consequential policy decisions ever.
Deregulating markets and industries will amount to nothing unless we first do away with the elephant in the room: the welfare state.
A new levy on high-end wealth looks innocent when it is first introduced. However, a simple experiment shows how destructive the ‘Zucman tax’ really is.
Ruled by establishment politicians with no other vision than to stay in power, Europe is drifting into disintegration and demise. But there is hope, inspired by the continent’s very few visionaries who know how to lead.
The center-right government just proposed a very good budget. Ten years too late.
When the next major fiscal crisis hits, Europe’s credit-challenged governments will pull down the banks with them. A crisis bigger than the one 15 years ago can no longer be ruled out.
The French government is facing the same fiscal crisis as in 2012—but this time, the ECB won’t be able to help them.
