Economy

Any persistent defence of the euro will result in a long-lasting recession and high unemployment in countries using fiscal austerity to pursue ‘internal devaluation’. It may lead to a revival of populist and nationalist movements, political collapse and disorderly eurozone break-up.

Ever since the start of the financial crisis, Slovakia has been having serious problems with the sustainability of its public finances.

What was quite interesting was the reaction of the official China\'s credit rating agency, Dagong, which has downgraded the US rating from A to A- due to the fact that the debt growth rate significantly outpaces that of fiscal income and GDP.

The second volume of Fukyama\'s book will deal with the last two centuries and hopefully continue to provide non-trivial analysis of political order.

Government budget for 2014? Welcome to 1984! That’s how a discussion about the 2014 government budget proposal could be summarised.

The lack of experience, skills and even professional contacts among young people, makes them understandably one of the more sensitive labor market groups.

Spain had its public debt at the level of 68.5% of GDP in 2011, and then at 85.9% in 2012, and now Prime Minister Mariano Rajoy believes that this year Spain will end with the debt of 94.2% of GDP. Spain is definitely a big problem for the EU.

Unfortunately, most governments are not using structural solutions; they are using cyclical solutions, such as greater monetary easing.

In truth, the middle income trap is just another exposition of how government policy can bring an economy to ruin.

The type of institutional system of the EU in the community model should be corrected so that it reflects “ordinary” political systems in liberal-democratic states.