Category Archives: News/ Lessons

From today’s Open Europe news summary: EUobserver reports that Russia has retaliated against the signing of a new trade treaty between Moldova and the EU, by banning the imports of processed beef, horse meat, lamb and pork from Moldova. EUobserver Who … Continue reading →

From today’s Open Europe news summary: The Irish Independent reports that outgoing European Commissioner, Maire Geoghegan-Quinn, is entitled to a total €432,000 EU pay-off over the next three years to help her adjust to life after Brussels. Irish Independent According to Wikipedia, this lady … Continue reading →

Re: The new normal is 2.5%, not 5% benchmark interest rate   Mark Carney, Governor of the Bank of England: “Why is that the case? Things have changed. Households have a lot of debt. The Government is consolidating its financial position. … Continue reading →

From today’s Open Europe news summary: Following the failed merger of Siemens and Alstom, which eventually joined with General Electric, France is reportedly pushing for an easing of the EU’s antitrust rules to allow the creation of European “champions”.  WSJ … Continue reading →

Dear Sirs: The Fed’s warning to banks that tougher stress tests are coming, so they should be making extraordinary preparations, is tantamount to passing out cocaine while warning that tough new drug tests will follow.  What does the Fed believe … Continue reading →

Dear Sirs: Wolfgang Munchau’s post on June 23rd titled “Merkel versus Renzi for the future of the eurozone” illustrates the inherent weakness of the European Monetary Union.  Like all socialized services, the EMU requires constant meddling by foreigners into the … Continue reading →

Dear Sirs: Mr. Joseph N. Distefano’s column “Should some bankers be in jail?” targets the wrong the bankers.  Sure, private sector banks made what ultimately came to be revealed as bad loans, but why would they do this?  There is … Continue reading →

When I teach Austrian economics, I spend a lot of time explaining the three uses of money–holding, spending, and investing–and how only spending and investing affect the overall price level.  This helps my students understand that the total money supply … Continue reading →

Re: Populist Party Gaining Muscle to Push Britain to the Right Dear Sirs: It is about time to end the inaccurate labeling of all political parties as either of the left or of the right.  The ultra left is always … Continue reading →

From today’s Open Europe news summary: In a comment piece for FAZ, German Finance Minister Wolfgang Schäuble reiterates his call for an EU budgetary commissioner with powers to veto national budgets. He also suggests Europe should be a “multi-layered democracy: … Continue reading →