Russian Crisis Hits Latvia, but (So Far) Not as Badly as Feared

From the beginning, it was clear that the economic crisis in Russia would pose multiple problems for Latvia and its Baltic neighbors. Until recently, many businesspeople in Latvia had seen close trade, transportation, and financial linkages as strengths that allowed their country to serve as Russia’s economic portal to the EU. Since the middle of […]

Russian Crisis Hits Latvia, but (So Far) Not as Badly as Feared

From the beginning, it was clear that the economic crisis in Russia would pose multiple problems for Latvia and its Baltic neighbors. Until recently, many businesspeople in Latvia had seen close trade, transportation, and financial linkages as strengths that allowed their country to serve as Russia’s economic portal to the EU. Since the middle of […]

The Grand Bu-da-peşkeş Hotel

I had very high expectations from “The Grand Budapest Hotel”, the latest Wes Anderson movie which was nominated for nine Oscars on Jan. 15, four days after winning the best musical or comedy at the Golden Globes on Jan. 11. Not only because I am big Anderson fan, but also because the movie is inspired […]

Erdoğan’s choice: Reform or religion?

After revealing the first nine on Nov. 6, Prime Minister Ahmet Davutoğlu unveiled seven more transformation programs of the government’s ambitious reform strategy at a press conference on Dec. 18. In my latest Hurriyet Daily News (HDN) column, I explain why it is a complete waste of time to discuss the second part of the […]

Turkey: The Sultan’s Speech

The politician formerly known as PreSinister (President Prime Minister), and currently self-proclaimed Sultan, Recep Tayyip Erdoğan gave a great speech this week that summarized two key issues of the Turkish economy better than I could have in a dozen columns. Speaking at the “Women and Justice Summit,” hosted by the Women and Democracy Association (KADEM), […]

Petrobras May Get Political Respite Finally

By Martin Tiller: Over the last few years, stock in the Brazilian state-controlled oil company Petroleo Brasileiro S.A., or Petrobras (PBR), has confounded those who track traditional measures of valuation. The stock has remained stubbornly low in terms of price-to-earnings-ratio (P/E), and even after rallying over the last few days, remains at less than seven […]

The Economic Future (if Any) of “Novorossiya”

Last May, I posted an item on the economic situation in the rebellious regions of Eastern Ukraine, or “Novorossiya” (New Russia), to use the term increasingly favored by separatists and  their Russian sponsors. Novorossiya was the name of a province of Tsarist Russia that occupied much of the southern part of present-day Ukraine, stretching all […]

Economics Isn’t Physics: Scottish Edition

Scotland is set to vote next week on independence from the United Kingdom and a new poll gives the pro-independence supporters a small edge for the first time. What’s interesting, and perhaps tragic, about the growing preference for breaking free of Britain is the apparent dismissal of the economic consequences that may arise from independence. The macro […]

An Independent Scotland: Poorer, More Unstable, Fiscally Weak

In 9 days, voters in Scotland will decide on whether their country should go it alone. The latest Sunday-Times YouGov poll shows a two-point lead for the “yes” camp. The outcome is now too close to call. The closeness of the polls has been matched by a shift in the tone of some economic commentary […]

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