The Great Debate UK

from The Great Debate:

Will a minimum wage destroy German jobs?

By Peter Gumbel
November 7, 2013

Germany has once again become the world’s favorite whipping boy, roundly criticized over the past few days by the U.S. Treasury, a top International Monetary Fund official and the European Commission president, among others, for running record trade and current account surpluses that are supposedly detrimental to the European and global economy.

from Nicholas Wapshott:

Austerity is a moral issue

By Nicholas Wapshott
May 17, 2013

Security worker opens the door of a government job center as people wait to enter in Marbella, Spain, December 2, 2011. REUTERS/Jon Nazca

from MacroScope:

Can Greek public opinion be turned?

By Mike Peacock
May 16, 2012

So we’ve got the fresh Greek elections we expected and markets, despite the inevitability that we would get here, have reacted with some alarm. European stocks have shed  around 1 percent, and the harbour of German Bunds is pushing their futures price up in early trade. The Greeks will try to form a caretaker government today to see them through to elections expected on June 17.

from Lawrence Summers:

It’s time for the IMF to step up in Europe

By Lawrence Summers
December 8, 2011

By Lawrence Summers
The opinions expressed are his own.

European leaders will meet today for yet another “historic” summit at which the fate of Europe is said to hang in the balance. Yet it is clear that this will not be the last convened to deal with the financial crisis.

from The Great Debate:

The abyss and our last chance

By Carlo de Benedetti
December 1, 2011

By Carlo De Benedetti
The opinions expressed are his own.


In a magnificent book published a few years ago Cormac McCarthy imagines a man and a child, father and son, pushing a shopping cart containing what little they have left, along a back road somewhere in America. Ten years earlier the world was destroyed by a nameless catastrophe that turned it into a dark, cold place without life.

Capitalism and democracy under threat from euro zone crisis

November 3, 2011

By Laurence Copeland. The author is a professor of finance at Cardiff University Business School. The opinions expressed are his own.

from The Great Debate:

Does the euro have a future?

By George Soros
September 15, 2011

By George Soros
The opinions expressed are his own.

The euro crisis is a direct consequence of the crash of 2008. When Lehman Brothers failed, the entire financial system started to collapse and had to be put on artificial life support. This took the form of substituting the sovereign credit of governments for the bank and other credit that had collapsed. At a memorable meeting of European finance ministers in November 2008, they guaranteed that no other financial institutions that are important to the workings of the financial system would be allowed to fail, and their example was followed by the United States.

Greece deal is a compromise and, once again, the banks have won

July 25, 2011

By Laurence Copeland. The opinions expressed are his own.

Whenever I see photos of Chancellor Merkel these days, I’m reminded of the lugubrious features of the creature in the Restaurant at the End of the World, as it recommended to guests which part of its own anatomy they should eat. The details of the “Deal to Save the Euro” are still mysterious and have been given a misleading spin in the official releases, but one or two points seem clear.

from Global News Journal:

What’s really behind Merkel’s nuclear U-turn?

March 29, 2011

(German Chancellor Angela Merkel promises a more rapid shift to renewable energy sources during a speech in the Bundestag lower house of parliament on March 17)

(German Chancellor Angela Merkel promises a more rapid shift to renewable energy sources during a speech in the Bundestag lower house of parliament on March 17)

German elections bring forward a possible stalemate situation for EMU

April 28, 2010

-Jane Foley is research director at Forex.com. The opinions expressed are her own.-