FE_41

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 Spain. Majority of us haven’t ever won any award, so this news is completely out of the blue. We received the Nobel Peace Prize! Well, the European Union…

picture: DonkeyHotey

Are you catching up all the tools, actions and countermeasures designed to save the eurozone from a break-up? Let’s count them together. Bilateral loans to Greece, IMF loans, SMP, EFSM, EFSF, LTRO, Sixpack, Fiscal Pact, ESM, OMT… It’s difficult to find a politician, not to say an ordinary citizen, who understands all these abbreviations. And still, these letters mean hundreds of billions of euro. Each of these tools represents also a set of rules, which…

FE_35

In Spain it will be hot after the summer. Judgment day will be on September 12. Did you sell grandfather’s gold teeth in Italy? We are treating depression by delivering news about bad situation our neighbours are in. The heat is slowing down the pace of society, but if you think it will slow down the pace of the crisis in the Eurozone, you’d better check if you don’t have sunstroke. Even though the news…

FE_32

Bouncer Ottmar Issing. ECB once again kept Greece in the game. Will the next five-year plan be merrier? Briefly today. Pandas are on holidays and without Angela Merkel who is having a rest and German Minister of Finance, Wolfgang Schauble, not much is going on in Europe. Mario Monti, Italian Prime Minister, informed Germans that he needs their help, not financial, but moral one. Spanish Prime Minister Mariano Rajoy considers asking Europe for help. Not…

FE_31

Central banks still don’t provide monetary opium, how long will the current illusions last without it? New taxes and economic growth. Milton Friedman would be 100 years old. Crisis is 5 years old. Last week we challenged the governor of the ECB Mario Draghi, who promised the moon to the markets, to stop talking and to show the money instead (Show Me the Money!). This week it turned out that there is no money to cover…

iness friedman 3

For the third time, Institute of Economic and Social Studies INESS was honored to organize event commemorating Milton Friedman, one of the most notable flag bearers of economic liberty. As INESS is the most frequently quoted economic think tank in Slovakia and a loud defender of market freedom, we wanted to make sure Friedman’s 100th birthday event had the prestige it deserved. The event took place in Pulitzer Restaurant in the center of Bratislava, capital…

FE_30

When is going to happen the next Slovak cabinet billion-worth meeting? Is Draghi tough because Angela is on hliday? Will be two Greek bankrupts within six months a new European or Olympic record? What a week! When it come to euro crisis, there is no silly time for sure. For example, how many Slovak cabinet meetings, during which our representatives approved 1 billion EUR for a Spanish black hole, have there been before? For example, the whole fiscal…

picture: robinsoncaruso

The current soap opera is far from being wrapped up by the bailout for Spain. We’re only at the 44th episode, and the main character of the whole series – Italy – has so far only been flitting furtively through the background. If you were to change the names of the countries to names of characters with a more southern ring, current developments in the eurozone would seem like a quality soap opera, full of…