Economy

The euro indeed plays a major role in the Greek drama, but the ultimate cause of the Greek economic turmoil lies somewhere else. The real problem is that the architects of the euro used it as a turbo that was meant to speed up the integration engine of the eurozone, while encouraging other European countries to do so as well.

In the last five years, Piraeus Bank has lost 97% of its value and Eurobank (indeed, an apt name) an astounding 99.8% of the value. Their market value is currently five times lower that the market value of the Uber company. However, the Stock Exchange has not reached the historic low of the year 2012.

The invisible hand is actually made of billions of very visible hands which put the products into shopping carts, receive payments, or shake other hands to complete a contract. The market is efficient because it is the only real “social” element of the arrangement of the society.

The delay with the implementation of the DCFTA had caused some concerns that important economic reforms associated with the Agreement could be delayed. However, one year after the Agreement signature, reforms are moving forward.

In February 2015, the Institute for Economic Research and Policy Consulting (Kyiv) held its regular quarterly survey of industrial enterprises as a part of its Business Tendency Survey. The respondents were asked a question \"Can your company use the possibility to apply a reduced rate of the single social contribution?\". Let\'s take a look at the results.

According to the Business Tendency Survey, a quarterly survey of industrial enterprises in Ukraine carried out by the Institute for Economic Research and Policy Consulting (Kyiv), the biggest obstacles to production growth in Ukraine in May 2015 were low demand, liquidity problems, excessive taxation, and unstable political situation.

Although Greece’s drama has left no people indifferent, neither those who stick to a tough position on Greece (Lithuanian government, for starters), nor newly declared Greece’s friends (European nationalists and socialists) would want the same scenario for their countries. However, becoming Greece is not so difficult. Here are a few guidelines.

Uber, established in 2009, today is valued at around $50 billion and its great success lies in the simplicity of the business model. Anyone can become an Uber driver in the USA, but is it so simple in Europe?

Minister of Finance Andrej Babis suggests that adoption of the euro currency should depend more on a dialogue with citizens of the Czech Republic. Therefore, he would like to organize a referendum on adopting euro. And the referendum should be tentative.

Fiscal policy is not just about taxation. And, moreover, the ongoing debates often miss actual numbers. And what are the actual recent fiscal numbers in the Czech Republic? Let\'s look into that.