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Are there the first signs of banks‘ restructuring? Will Netherlands lose its AAA rating? Spain won a battle, but the war is not over yet. Sarko once again wants to reach for the treasure buried in ECB, Argentina is nationalizing, Italians are burning paintings, and ECB officials are afraid of inflation. Following Germany, also Ireland will determine the constitutionality of the „fiscal pact“ and the new European Stabilization Mechanism. They were challenged by the Irish MP…

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Will a knight from the executive board of ECB buy problematic bonds for his private portfolio as well? Are the „fiscal pact“ and ESM unconstitutional? Do you know that through the European funds you are also contributing for the early retirement of the boss of the company which was bought by Facebook for a billion dollars. It seems that the period of peace brought about by the massive intervention of ECB is coming to an end. The…

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Europe promised even more money which it doesn’t have, Spain promises painful cuts, Slovakia higher taxes. Euro Bill keeps increasing, we will pray for its rescue and just 11-year-old Dutch children want to expropriate Greeks.  We will start this week rather gloomily. On Wednesday morning an older man, former pharmacist  Dimitris Christoulas, committed suicide by shooting himself at the busy square in front of the Greek parliament in Athens. He left a letter, in which he…

picture: IME

20 April 2012 is the day when Bulgarians, figuratively speaking, stop working for the government and start working for themselves. This day is called Tax Freedom Day. In 2012 Bulgarians will need to work nearly four months only to pay their taxes and fees to the Government, thus reaching the budget’s revenue target for the year. In Bulgaria, this day traditionally is somewhere in May and its early appearance in the last 3-4 years is…

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The INESS Institute, independent Slovak think tank, runs a regularly updated the Euro Bill on its specialized website eurokriza.sk. The Bill contains structured records of all Slovak guarantees, borrowings, and share of bond purchases related to the Euro-rescue efforts. After the last update from the late March 2012, the Euro Bill reached EUR 1869 per capita in Slovakia. The level of currently activated funds rose to EUR 495 per capita. Following events and changes were…

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Why the zombie banks aren’t stressed by stress testing, about Austrian Japanese, and about how difficult life the Spanish banks and especially Spanish bankers have. And that Trichet, even though he uses bad economic theories and non- functioning economic models, doesn’t regret anything. When it comes to solving the crisis in Europe, many people use the example of the USA, where central bank during the crisis provided the whole financial sector with guarantees, which apparently…

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Why not to believe door-to-door sellers, central bankers; which European country is the closest to a default,how Italians save money  on food to sendpayments to the investment bank Morgan Stanley thanks to their clever politicians, and finally about really clean money.By the way, do you have a chicken at home already? Mario Draghi, president of ECB, told the German newspaper Bild that when it comes to the European debt crisis, the worst part is already behind…

photo: Ramunas Geciauskas

A survey of the Lithuanian economy conducted by the Lithuanian Free Market Institute (LFMI) shows that eurozone problems do not leave anybody cold. Lithuania failed to join the eurozone in 2007 because it missed the inflation criteria by only 0.06 per cent. At the time, it was considered a big political failure. However, given the present vulnerability of the eurozone, it may look like a windfall success. The national currency, the litas, is pegged to…

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About elections which delighted Europe, about some new ideas from the city on the Seine and about a bankruptcy that turned out to be a bankruptcy. A budget hatchet will be buried in Slovakia, and Robert Fico will be in charge of it. At least, this is what the last weekend’s election resulted in. Contrary to the election outcome in the year 2006, this time the results of the party SMER pleased the foreign countries….