Articles

The brief message of the report regarding the effectiveness of the banking supervision in Bulgaria is unambiguous: yes, the supervision has demonstrated weaknesses, and yes, the CCB management has circumvented and violated the regulations and the good banking practices.

Last month one of the greatest and most extraordinary economists of our time – Douglass North (1920–2015) – departed. He left enormous inheritance of insights that will be considered and re-considered for a long time, and its entire meaning is yet to be discovered and realized.

Today we celebrate the Human Rights Day. Although it, technically, commemorates the Universal Declaration of Human Rights, we think the Human Freedom Index and its definition of freedom – the absence of coercive constraint – can assist us in thinking more carefully about the state of freedom around the world.

At the beginning of his speech, CEPOS President attacked the popular myth of Denmark being rich thanks to the welfare state. As he demonstrated on number of charts, Denmark was first rich, and only then could afford the welfare state.

Following the tragic attacks in Paris and subsequent events in Africa, the debate on multiculturalism and immigration has been given a brand new flame. Both camps have thrown in their big guns.

Let’s be honest. Governments remember deregulation in their talks with businesses or during election campaigns. But they do not pay nearly as much attention to deregulation as they do to expanding regulatory obligations, increasing taxes, or telling people how to behave.

The \"green mechanism\", which will become actually effective on 1 January 2016, should work. No sooner than next year we shall see, though, whether it will function effectively and meet the expectations of the majority of players.

Cash payment restrictions would increase individual and corporate expenses and would cause payment inconveniences. How would one be expected to make larger payments at weekends when interbank transfers are not made? A forced „banking“ of cash reduces competition among payments methods.

There are those who view markets as functional (albeit imperfect) tools for economic decisions and those who think markets always fail at this task. Add to that the intricacies of the energy sector, and the discussion about markets in the energy sector becomes an argument between economists and engineers written down by lawyers.

Last week Bratislava had yet again the honor of hosting some of the world’s leading experts in the subject at the conference entitled \'The Future of Money 3.0\' organized by the F. A. Hayek Foundation in Hotel Devin on Thursday, November 26, 2015.