This weekend, the world welcomed the surprise victory of Hassan Rouhani, the most “moderate” of approved candidates in Iran’s presidential election. Commentators voiced optimism over potential changes in policies, amid ongoing economic sanctions against Iran’s nuclear program, but coming changes to Iran’s foreign relations are likely overstated. Iranian elections are notoriously hard to predict, and [...]
Particularly when that bank has a history of involvement with fraud and mismanagement. The proper level of financial regulation is a complex topic, about which people can have honest differences. But, reasonable people would agree that a bank having a history of involvement with fraud and mismanagement (and a recipient of one of the largest [...]
EU ministers apparently made little progress last week on terms under which the European Stability Mechanism (ESM) would recapitalize weak banks, though they still hope for an agreement by end month. That said, if a draft plan circulated by European Commission Secretariat is a guide, we are seeing another step in the disappointing (and risky) retreat from last year’s promise to decisively break [...]
Iran: New President, Old Problems
Can a moderate change the landscape?
Must ReadThe Wilder View
There are many ways to define rebalancing within the euro area: relative prices, trade, productivity, unit labor costs, etc. I’d argue that one could see it in the employment data as well, although it will take a long time to work its way through. Basically, Spaniards should move to Germany and vice versa to enjoy [...]
The best way to level the playing field for taxes on businesses of all types would be to abolish the corporate profits tax altogether.