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Europe

My Big Fat Greek Crisis

Not since the era of Aeschylus, Sophocles and Euripides has Greek drama enjoyed such popularity. Audiences are riveted by provocative dialogue (“immoral beggar”; “fiscal water boarding”), tested themes (a Greek David versus a German and European Union (“EU”) Goliath), modish pop science (game theory) and sex (a Greek Finance Minister who attracts attention in equal [...]

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Don't Shoot the Messenger

When Will The ECB Start To Taper?

What matters isn’t what you think should happen, it’s what others think will happen that counts. Funny days these, the world seems to be constantly turning upside down. I could be talking about the arrival of negative interest rates in many European economies, but I’m not. What I have in mind is the crossover that [...]

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The Impact of ECB QE

The ECB is using the most powerful weapon in its armory and Europe is now in uncharted waters.

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Europe

Tax Credit Certificates to End the Greek Euro-Stalemate

No solution is in sight for the Greek crisis. And while the EU and most of the Greek people do not want a breakup from the Eurozone, Greece and its partners should realize that they are at a dead end and that the time has come for them to consider bold alternatives, including a consensual [...]

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QE experiments so far have shown no significant impact on aggregate demand and consumer price inflation: QE has no way to funnel money to those who are most inclined to spend it.

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Richard Wood Richard Wood

Richard has published papers on wages policy, the taxation of financial arrangements and macroeconomic issues in Pacific island countries. Views expressed in these articles are his own and may not be shared by his employing agency. He is the author of How to Solve the European Economic Crisis: Challenging orthodoxy and creating new policy paradigms