ECB decided not to make any changes to the policy and all rates remained unchanged. Mario Draghi said that ECB sees 0.6 % decline in GDP within Eurozone in 2013 and some downsides risks persist in the economic outlook. On the other hand he reconfirmed that ECB policy will remain accommodative as long as needed.…
Čítať viacSlovak companies are trying to deal with the pertaining lack of workers in several distinct ways. They are desperately flicking through the official lists of the relatively large army of the unemployed. Foreign workers are being imported en masse. Students and pensioners are being hired. And when nothing else is helping anymore, businesses limit their…
Čítať viacThe European Central Bank warned about the risk of a renewed banking crisis. The main reasons behind are the euro zone’s slumping economy and a surge in problem loans. The logic is simple. Prolonged recession will cause that many borrowers were not able to repay their debts which creates more stress for European banks balance…
Čítať viacThe new government is here, despite its unpopularity by a great deal of the public and has already its first formative essay, named the Government Manifesto. Its importance tends to be overrated, despite that in past it has shown to be merely a formative essay. There were times, where parts of the Manifesto were rather…
Čítať viacMonetary policy is one of the most important issues among any other EU issues. Last week Bratislava again had the honor of hosting and witnessing some of the world’s leading experts at the conference entitled The Future of Money 3.0 organized by the F. A. Hayek Foundation in Hotel Devin on Thursday, 26th November 2015.…
Čítať viacA few days ago “Le Monde” has leaked an official document of the French Socialist Party blaming European center-right governments of “cynicism and blind austerity”. The primary subject of the document was Chancellor Angel Merkel, addressing her with the following words: „selfish intransigence of Angela Merkel, who thinks of nothing other than the savings of…
Čítať viacThe story of the creation of personal retirement accounts in Slovakia cannot be told simply by presenting plain facts, irrespective how impressive the quick facts above are. There are two major reasons for that. Firstly, the pension reform itself, an otherwise unprecedented achievement needs to be put within a more general framework of a country…
Čítať viacThe situation in the EU is fixed thus at least according to some European leaders. But last figures show us that the most powerful motor of the EU economy – Germany is slowing down and could face recession. It has still 0.7% growth of GDP but public sector was one of the biggest contributors to…
Čítať viacThere were two most important news of the last week. First one was the FED´s meeting we mention above. The FED will continue with purchasing of mortgage-backed securities and long term treasuries in $85 billion amount per month. According to James Rickards the basic aim is to support the domestic consumption by small threat of…
Čítať viacThe story of a birth, short existence and doom of the ‘millionaire tax’ in France is very instructive in many ways and that is why it deserves much more attention than we have paid to it till now. This idea has become a target of renewed critique, at this place as well. A man does not have to be…
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