Italy’s budget progresses as Brussels watches

By Mike Peacock
December 1, 2014

renzi.jpg

Italy’s lower house approved Prime Minister Matteo Renzi’s tax-cutting 2015 budget on Sunday. It will now move on to the Senate, where it must be passed by the end of the year. The budget is at the centre of a tussle with the European Commission, which says it does not do enough to reduce the country’s huge public debt.

Cameron’s immigration conundrum

By Mike Peacock
November 28, 2014

David Cameron’s long-awaited speech on immigration – which has been billed as his blueprint to win back disaffected Conservatives and others now voting for anti-EU UKIP – will be delivered today.

Central banking elite under one roof

By Mike Peacock
November 7, 2014

U.S. Federal Reserve Chair Yellen speaks with European Central Bank President Draghi at the Jackson Hole Economic Policy Symposium in Jackson Hole

After European Central Bank chief Mario Draghi managed to mend fences and get his colleagues to sign up to his 1 trillion euros or so target to push into the ailing euro zone economy, Paris hosts its version of the Jackson Hole central bankers meeting.

Nearing a gas deal

By Mike Peacock
October 21, 2014

A pressure meter and gas pipes are pictured at Oparivske gas underground storage in Lviv region

Russian and Ukrainian energy ministers are due to meet European Energy Commissioner Guenther Oettinger in Brussels after presidents Petro Poroshenko and Vladimir Putin said they had agreed on the “basic parameters” of a deal to get gas flowing to Ukraine again this winter.

Amnesty for undocumented immigrants would not burden U.S. economy – Levy Economics Institute

August 9, 2013

The recently passed Senate bill – S. 744, or the Border Security, Economic Opportunity, and Immigration Modernization Act – that would take significant steps toward comprehensive reform, is being held up in the Republican-controlled House of Representatives, with a “path to citizenship” for undocumented immigrants the apparent sticking point.

As U.S. debates immigration, Fed’s Fisher tells his dad’s story

February 22, 2013

When Dallas Federal Reserve Bank President Richard Fisher and inveterate QE3 critic spoke Thursday evening at a black tie insurance industry event in booming Dallas, he left monetary policy out completely. As he often does with a speech directed at fellow Texans, he bragged on the Lone Star State, its job-generating prowess and its resilience since the Great Recession.

Immigrant small business owners: bringing big bucks to Main Street

June 15, 2012

What would Main Street America look like without immigrants?

Picture vastly fewer restaurants (37% of the industry’s ownership is foreign-born), hotels and accommodation (43% foreign-born ownership), dry cleaning and laundry facilities (54% foreign-born), and nail salons (37%). It would be that much harder to go out for a treat (bakeries, 32% immigrant-owned), fill up the tank (gas stations, 53%), or grab a bottle of wine on the way to a dinner party (beer, wine and liquor stores, 42%).

Diplomacy in central banking debate comes back to bite Weber

September 1, 2010
German central bank board member Thilo Sarrazin

German central bank board member Thilo Sarrazin

Fresh from asserting that diplomacy is over-rated for central bankers, German Bundesbank President Axel Weber is now embroiled in an embarrassing scandal over undiplomatic comments from one of his board members which could ultimately damage Weber’s own career ambitions.

from Route to Recovery:

The most unemployed town in America — or is it?

November 4, 2009

ROUTE-RECOVERY/If you’re looking for ground zero in America’s longest and deepest recession, El Centro in southern California appears on first glance to fit the bill.