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Reducing the frequency of electoral cycles in the EU: A proposal for synchronising national and European elections | vox

Reducing the frequency of electoral cycles in the EU: A proposal for synchronising national and European elections | vox | European Finance & Economy | Scoop.it

Is European economic recovery being delayed by political procrastination? Are electoral cycles hindering a return to growth? This column argues that by synchronising European nations’ electoral cycles (along with those of the European Parliament), Europe can avoid its current slow and jittery approach. Creating a synchronised Europe-wide voting period would do away with overlapping national electoral cycles. A common national and European voting period would reduce political uncertainty, ensuring quicker policymaking response times for a smoother, quicker route to recovery.

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Did you hear about the guy who wasn’t an economist? He was right… | A Fistful Of Euros

Gordon Brown makes one of his rare post-prime ministerial appearances, arguing for globally coordinated economic policy, and especially, more stimulus. Here’s something I hadn’t heard of:

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The Only Chart You Need To See To Know Why David Cameron Is Calling For A Referendum On EU Membership

The Only Chart You Need To See To Know Why David Cameron Is Calling For A Referendum On EU Membership | European Finance & Economy | Scoop.it
Flawed logic.
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Europe Has Traded Its Financial Crisis For An Economic Crisis

Europe Has Traded Its Financial Crisis For An Economic Crisis | European Finance & Economy | Scoop.it
We may see another stock market slide.
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Economist's View: 'King Stands by Inflation Targeting'

Economist's View: 'King Stands by Inflation Targeting' | European Finance & Economy | Scoop.it

I don't get this argument from Bank of England governor Mervyn King:

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Berlin Cops Reveal Inside Of Underground Tunnel That Thieves Dug To Rob A Bank

Berlin Cops Reveal Inside Of Underground Tunnel That Thieves Dug To Rob A Bank | European Finance & Economy | Scoop.it
Like something out of a movie!
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Mish's Global Economic Trend Analysis: European Car Demand Near 20-Year Low; Peugeot Workers Shut Down French Plant; GM Loses Global Car Sales Lead to Toyota Once Again

Mish's Global Economic Trend Analysis: European Car Demand Near 20-Year Low; Peugeot Workers Shut Down French Plant; GM Loses Global Car Sales Lead to Toyota Once Again | European Finance & Economy | Scoop.it

I provide this valuable service at no cost to the French taxpayer and also to Renault’s CEO, lest the French government actually waste taxpayer money on a commissioned study (no doubt to come up with the wrong set of answers).

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Mercor's curator insight, January 22, 2013 10:31 AM

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Testosterone Pit - Home - The Next Shoe To Drop In France

Testosterone Pit - Home - The Next Shoe To Drop In France | European Finance & Economy | Scoop.it

France’s economic foundations are cracking. Unemployment hit 10.5% and is incessantly rising. The private sector is becoming comatose. Car sales sank 13.9% in 2012, from a lousy 2011; sales by its native automakers plunged even more: PSA PeugeotCitroën down 16.6%, Renault Group down 19.8%. Now home sales are grinding to a halt. And the finger-pointing has already started.

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Growing Pessimism About EU Economy

Growing Pessimism About EU Economy | European Finance & Economy | Scoop.it

The brief optimism that a resolution to financial problems in the European Union would begin a process that would resurrect the economy is over. Both economists and national leaders believe that low consumer demand, unemployment and austerity measures that have killed efforts by governments to rekindle growth have taken an ongoing toll.


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EconoMonitor : The Kapali Carsi » I expect you to die, Mr. (Turkish) Bond

EconoMonitor : The Kapali Carsi » I expect you to die, Mr. (Turkish) Bond | European Finance & Economy | Scoop.it

That’s what the villain Auric Goldfinger tells 007 when the latter asks, “Do you expect me to talk?” in the Bond movie Goldfinger. This is exactly how I feel about Turkish bonds.


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Marc to Market: Great Graphic: Euro and Value

Marc to Market: Great Graphic: Euro and Value | European Finance & Economy | Scoop.it
This Great Graphic is a monthly chart of the euro from Bloomberg, with a 120- month (ten-year) moving average.  It comes in now just below $1.32. 
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RealTime Economic Issues Watch | The Coming Cyprus Challenge for the Euro Area

RealTime Economic Issues Watch | The Coming Cyprus Challenge for the Euro Area | European Finance & Economy | Scoop.it

The Cypriot case looks similar to that of Ireland in late 2010, where capital shortfalls in a collapsing oversized banking system also caused the collapse of government finances and the need for international financial aid. Because no one wants to pay for bailing out banks, especially in other errant countries, the Cypriot government faces substantial political obstacles in its quest for money from the euro area and potentially the IMF.

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Marc to Market: Great Graphic: Euro and Value

Marc to Market: Great Graphic: Euro and Value | European Finance & Economy | Scoop.it

Many are seeing Juncker's recent comments at yet another shot in the currency wars.  His appears to be a fairly isolated voice in Europe.  Recently, Martin Feldstein, no strong advocate of the EMU experiment, was quoted at the start of the year suggesting European policy makers should consider a coordinated approach to weakening the euro.  Juncker's comments are not that.  German (Economics Minister) and an ECB official (from Austria) contradicted Juncker. 

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The French Roots of the Scottish Enlightenment :: The Circle Bastiat

The French Roots of the Scottish Enlightenment :: The Circle Bastiat | European Finance & Economy | Scoop.it
Gavin Kennedy offers a nice review of Alexander Brodie's 2012 book, Agreeable Connexions: Scottish Enlightenment links with France.
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The Swissie does not impress HSBC

Some, like SocGen's Kit Juckes, has declared SNB the victor of this currency battle.

Others, like HSBC's David Bloom is less impressed:

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Europe Has Traded Its Financial Crisis For An Economic Crisis

Europe Has Traded Its Financial Crisis For An Economic Crisis | European Finance & Economy | Scoop.it
We may see another stock market slide.
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Mercor's curator insight, January 23, 2013 1:24 PM

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IMF and EU at Odds Over Cyprus |

IMF and EU at Odds Over Cyprus | | European Finance & Economy | Scoop.it

A rift has emerged between the eurocracy and the IMF over the pending bailout of Cyprus. The EU's bailout mechanism ESM stipulates that the IMF must agree that a country applying for help will achieve debt sustainability under the proposed bailout plan. The intent behind this stipulation is clear: it allows the...

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Mercor's curator insight, January 23, 2013 1:06 PM

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European Stocks End Week At Highs, Credit At Lows | Zero Hedge

European Stocks End Week At Highs, Credit At Lows | Zero Hedge | European Finance & Economy | Scoop.it
It was the best of times, it was the worst of times. That just about sums up the divergence of opinion among credit (bad) and equity (good) traders had as the week ended on a very sour note for bonds.
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Mercor's curator insight, January 22, 2013 10:50 AM

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Is it game over for UK retail?

Is it game over for UK retail? | European Finance & Economy | Scoop.it
With falling real wages and rising job insecurity, Friday's dire retail sales data was no surprise – but some words of caution are in order
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Ireland chairs EU economic policy coordination - Grahnlaw

Ireland chairs EU economic policy coordination - Grahnlaw | European Finance & Economy | Scoop.it

Before taking the scenic route to watch the EU Annual Growth Survey 2013 on Eur-Lex, we saw the Irish presidency of the Council of the European Union mentioning the European semester in the six-month programme. Here I draw your attention to one important sentence:

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Germany: the financial enemy within

WestLB AG was a bank which, after a lot of hubris, went broke. The German government accepted 85 billions worth of bad assets and took over a lot of debts from this bank. One bank, 85 billions of bad assets – that’s more than the entire Greek government deficit in the three years 2009-2011. The Germans might indeed need the gold, soon (google ‘Deutsche Bank’ and ‘fraud’).

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Trust Your Instincts: "Complete Strip-tease" by Spanish banks shows no more need for capital

If Mr. Rajoy thinks that the Spanish banks have bared all, then his administration should be more than willing to require all Spanish banks to provide ultra transparency and disclose on an ongoing basis their current global asset, liability and off-balance sheet exposure details.  If there is nothing to hide after the strip-tease, then there is no reason for the banks to object to letting market participants confirm this fact for themselves.  On the other hand, by not requiring the banks to provide ultra transparency, the Spanish government is waving a red cape saying that the banks still have something to hide.

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Mish's Global Economic Trend Analysis: "Brexit" Talk with Nigel Farage; Underestimating "Sheer Fanaticism"; Barroso's Highly-Paid Chauffeur-Driven Lifestyle

Mish's Global Economic Trend Analysis: "Brexit" Talk with Nigel Farage; Underestimating "Sheer Fanaticism"; Barroso's Highly-Paid Chauffeur-Driven Lifestyle | European Finance & Economy | Scoop.it

Inquiring minds are listening to an interesting Interview with Nigel Farage on the "Brexit". For those unfamiliar with the term, "Brexit" means a United Kingdom (British) exit from the EU.  Six days ago in We Want to Have Our Cake And Eat It Too; Another Hotel California Setup; One Million Tiny Miseries, I gave my reasons why the UK should kiss the EU goodbye.  I am certain Farage would agree, while offering a dozen more reasons of his own.

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Bill Black: German Growth Goes Negative but Merkel’s Press Remains Glowing « naked capitalism

Bill Black: German Growth Goes Negative but Merkel’s Press Remains Glowing « naked capitalism | European Finance & Economy | Scoop.it

It is good to be Angela Merkel. Growth in Germany goes sharply negative in the last quarter of 2012 and press reports emphasize how sound the German economy is because it is a net exporter. This article analyses how the Wall Street Journal and the New York Times presented the news about Germany’s economy. I show that the presentation reveals more about the pathologies of our major media than about the pathologies of Germany and the Eurozone.




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On Net-exports Life Support: Germany Is Back at It, and Now Euroland Is Too « Multiplier Effect

It is rather unsurprising that German exports have not been doing so well in the crisis-stricken countries of the euro area of late. Germany’s trade and current account surpluses with its euro partners have declined significantly. But so far the crisis has actually been a mixed blessing overall. For one thing, benefiting from its haven status, Germany’s interest rates and financing costs are extremely favorable. While lending support to property markets, finance minister Wolfgang Schäuble enjoyed a nice windfall too, as Germany’s general government budget ended the year with a small surplus, in part owing to savings on debt interest payments (much in contrast to his partners elsewhere in the area).

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