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Help needed. ilolab via Shutterstock

The eurozone needs a new treasury to revive it

The crisis of growth in the eurozone economy is now in its seventh year and the outlook is truly grim. But a new consensus is gradually emerging that could help lift euro countries out of this ongoing…
The world’s oldest bank, Banca Monte dei Paschi di in Siena, is now battling to survive, after failing the ECB’s stress tests. EPA/Carlo Ferraro

EBA stress test needs to use tougher metrics when assessing banks’ solvency

The results of the long-awaited European Banking Association (EBA) “stress tests” show that 25 banks were found wanting. Altogether, the banks were about €25 billion short of the capital required to be…
European Central Bank President Mario Draghi has called for fiscal policy to lead the way in ending the Eurozone recession. AAP/EPA/ARNE DEDERT

Draghi calls for spending to rescue Euro – but will governments do ‘whatever it takes’?

In July 2012 European Central Bank president Mario Draghi famously announced that the ECB would do “whatever it takes” to rescue the Euro. And he added: “Believe me, it will be enough.” In fact, it has…
Positive interest rates meant Euros were stuck in the bank. Mario's Planet

Explainer: why does the eurozone need a negative interest rate?

It’s not unusual for central banks with economies to revive to let their interest rates go negative in “real” terms by keeping them below the rate of inflation. The eurozone, the US and the UK have done…
Greece is still an economic mess, and the far right is benefiting. EPA

Why did Europe lurch right? Because the ‘recovery’ is a farce

I was trained as an economist, but that does not mean I think economics determines absolutely everything. However on occasion the impact of economic factors proves so strong that the causality is obvious…
The row over Scotland in Europe lives on… Yanni Koutsomitis

Scotland Decides ’14: who is right on EU membership?

Europe is back on the agenda in Scotland. William Hague wrote to the Scottish government calling for a plan B in case EU membership is refused. Meanwhile Alex Salmond warned EU member states that there…
A World Bank report gives a hopeful forecast for global growth. Image sourced from www.shutterstock.com

Growth spurt hopes for global economy, but challenges remain

The World Bank’s Global Economic Prospects report released this week is moderately optimistic about the short-term outlook of the global economy. World Bank economists anticipate an improvement in most…
“The euro has backfired: it is holding back growth and job creation; and it is dividing Europe.” Stefan Rousseau/PA

Nobel laureate: tough choices for a troubled euro

One of the most exciting things about working at the LSE is that we get to hear some of the world’s top thinkers and policymakers. One occasion that I recall vividly is the visit of two great Europeans…
Where now for European banks? MPD01605

This is how the EU can fix its failed banks

The EU has made progress on the construction of a banking union, by agreeing on common rules for dealing with failed banks. The downside is that these rules won’t kick in until 2015: the Eurozone faces…
Could a new method of measuring structural deficits mean easing austerity pressures on troubled Eurozone economies? Chema Sanz via Flickr

Potentially less austerity for the troubled Eurozone

The EU Commission’s autumn economic forecasts are due tomorrow. What makes this event special this year is that there are rumours about a possible change in the Commission’s approach to calculating the…
Dark clouds are gathering over Slovenia. lassi.kurkijarvi

The downfall of Slovenia, and why it matters for Europe

The eurozone crisis appears to have a new victim: Slovenia. To avoid the need for a bailout, the IMF has called on the country to immediately recapitalise its banks. This should worry the rest of Europe…
The ECB’s decision to consider purchasing government bonds led to relief in many troubled Eurozone economies. AAP

Good news from the Eurozone … or is it?

Finally good news from the Eurozone! According to recent Eurostat estimates the combined economy of this troubled region grew by 0.3% in the second quarter of 2013 after shrinking for six subsequent quarters…
Greece: not just riots and unemployment. flikr/Imagaday

Europe’s latest investment opportunity … Greece

The IMF has conceded that mistakes were made in the way the first Greek bailout in May 2010 was handled. Its report suggests the need to refine the fund’s lending policies to accommodate for conditions…

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