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The world has been slipping further into economic illiteracy over the past five years, with seemingly no country immune. From the United States, ostensibly, still a bastion of classical liberal orthodoxy, we have seen laws enacted (and upheld...
Crisis on Cyprus brought new tailwinds in the sails of the crisis in Europe and fully opened the question which had only been cautiously considered behind the scenes until now – how to deal with European banks? But first things first. Nearly...
The rescue package for Cyprus finally consists of a 10 billion euro bailout from the ESM and it has one crucial condition, namely taxation of all deposits larger than 100,000 euros, which inflicts significant losses on depositors — possibly...
I think that the Cyprus situation was a dominant one last week. I do not want to bother you with the same information you have already read somewhere else and which is probably not accurate because the situation is changing every minute. I would...
The crisis was hidden in Cyprus. We broke two different taboos. Moscow-Cyprus: booked out. During the last months we have been listening to the eurozone leaders repeatedly saying that the crisis is over. Spanish banks rescued, Italian and Spanish...
Probably, not only to Cyprus. But first, let us go back in time: the year 1953. The then president of Czechoslovakia declares that monetary reform is not even being considered. Not even two days have passed and the exchange rate declines from...
Europe has just reached the turning point of the crisis. Now it can be better or worse – it all depends on what will happen in Cyprus. At first glance, the conditions which IMF and the European Union offered the government of Cyprus in return...
We received the Nobel Peace Prize. The British want to have their own laws at home. Will we pay new taxes to fill in the Eurozone’s budget? ESM is officially working, we will see how much it will finally cost us. Red Cross is going to help...
ECB trade unions protest, Barclays collects all the prizes both at home and abroad, Sarkozy packed toothbrush and pajamas – just in case, Finns and Dutch are disobedient, Klaus witty about the Europe as always. And you know who rules the...
Who wants to be Minister of Finance of Greece should report to the director. Everyone in ECB was following football, players used as a collateral were playing. Will ESM turn into European zombie banks hedge fund? Will ESM run out of resources...
