Category Archives: European debt crisis

Italian referendum could trigger resignation of Prime Minister Renzi and follow on banking crisis.

This Sunday the Italian people vote on a referendum to restructure the constitution to diminish the power of the regional governments and the Senate and “modernize” Italian governing structures. Mr. Renzi has made victory in the referendum a personal goal … Continue reading

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After the Crash:Rediscovering Keynes and the origins of quantitative easing (2nd posting)

By Harold R.Chorney Professor of Political economy, Concordia University Montréal, Québec Preface: More than twenty five years ago I began to write about problems of public finance.( Chorney, 1984) At the time that I began to do so, I never … Continue reading

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Obama leads with inspiring state of union speech;European central bank embraces QE

The President of the United States delivered an excellent inspiring progressive speech on the road forward. He proposed a number of progressive policy reforms aimed at diminishing inequality by modestly increasing capital gains taxation rates from 23 to 28 % … Continue reading

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Greek parliament fails to elect President:New national elections called for January 25, anti-austerity Syriza likely winner

Events are moving closer to a major policy change for the better in Greece. The Greek parliament failed to vote in large enough numbers for the proposed candidate for President Stavros Dimas. He required 180 votes but received only 168 … Continue reading

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Europe moves closer to Quantitative Easing:Inflation falls to 0.3% Carlo Bastasin suggests a useful policy tool

The latest inflation data for the Eurozone shows inflation at only 0.3 %. Many analysts are beginning to worry that prolonged low inflation will reinforce economic stagnation (See the analysis of Gavin Davies in the Financial times on this.) An … Continue reading

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Ed Balls embraces fiscal austerity at Labour Party conference: A Major error

The shadow British Chancellor Ed Balls speaking at the Labour party conference has foolishly embraced the fiscal conservative principle of no new deficit financed funding for education or social investment or infrastructure when and if Labour is in office. This … Continue reading

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Economic stagnation persists in Europe: austerity policies are the cause

This week Stats Canada has announced it is recalculating its employment numbers because of a processing error in its July tabulation. It will be interesting to find out in what direction and way they erred in their earlier release. The … Continue reading

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