Giving up on reforms could send a very bad signal to the other problem countries (Portugal, Spain, Italy, France) where they are also key to growth.
An online tool created by Institute of Economic and Social Studies shows complete breakdown of member states’ costs and guarantees for the rescue of the Eurozone.
Six years in Spain mean six years of falling real estate prices. If you invested in the average Spanish house in 2008, today you have 35% loss on your investment.
Clueless looks of politicians will be once again drawn to the ECB. In addition to reports on starting recession, they are supported also by the legend of deflationary spiral that regularly emerges from monetary depths to destroy the shoots of economic success.
In case of San Francisco parking spaces, the city obviously rents out these spaces way below market price (or even free), which makes it financially interesting for (probably unemployed or underemployed) drivers to occupy them and sell them off for market rates.
Europe is currently threatened the two extremes: the first is the rise “Eurosceptics” who want the dissolution of the EU, and the second in form of “Eurocrats” increasing their efforts to manage everything from Brussels.
If we take a look back at how the integration process evolved, the ‘state of tension’ between the community (the EU) and intergovernmental methods has always been present. The establishment of the three Communities in the 1950s was a reflection of how the process relied on the community method: this is how the creation of the Community common market began.
Besides the problems Europe is facing when it comes to competitiveness and the welfare state, the most critical and dangerous one is that of cohesion, including social cohesion.
We can’t deny that Polish accession to the Eurozone must involve some costs. (…) And benefits that can be achieved may reward the necessary sacrifices.