MarketLine Blog

Posts tagged to Industry Profiles

Greece – Another Case of Expansionary Austerity Failure

MarketLine

The public austerity program forced upon the Greek population by the European Commission, the European Central Bank, and the International Monetary Fund (Troika) has depressed the economy instead of leading to an economic expansion, under the mantra of “expansionary austerity” policies. Five years of austerity involved drastic reductions in public expenditure, public sector redundancies and tax increases in the context of the worst global contraction of more than 60 years. As the Greek Prime Minister, Yanis Varoufakis, explained in a recent article published on the Project Syndicate website, the hard-line… Read more

Banking regulator for 28-nation EU by November 2014?

MarketLine

Back in September 2012, the European Commission (EC) proposed a European Union (EU) banking regulator, which has come to be known as the Single Supervisory Mechanism (SSM), to oversee the 28-nation bloc’s banking sector. This week, the establishment of such a body moved a step closer. Lithuania’s Finance Minister (Lithuania currently holds the EU’s rotating presidency) Rimantas Sadzius announced yesterday that he was “very glad to note the adoption of this very important single supervisory mechanism package.” Michel Barnier, Commissioner responsible for internal market and services,  was even more enthused… Read more