european central bank
France’s transformation under Macron will push the Germans to change as well.
It is primarily the economic policies of Europe, including France, over the past decade that have allowed the National Front to grow into a legitimate opposition party.
On June 3, 2016, Gabor Vonsayas, the leader of Hungarian far-right party Jobbik, announced that he no longer supported Hungary’s
Though the safe asset market still isn't clearing, safety has become much more expensive, and many more safe assets are needed
Austerity might seem to visit an element of justice on the spendthrift borrowers. However, creditors who cheerfully and wildly
Simply put, the Fed pulled off a magic trick that would leave Houdini gasping. Janet Yellen and the Fed took the made-up money and bought Wall Street assets that would have otherwise crashed and gave money to Wall Street banks that would have otherwise gone bankrupt...with no strings attached.
The rhetoric around central banks now mainly centers on central banks being "out of ammunition" or the associated loss of
Paris warned that populism will otherwise take hold after Britain's vote to leave the bloc sent shockwaves around the world.
It is important to remember what the European Central Bank (ECB) was doing when the "debt crisis turned into a liquidity panic."
A new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe--only this time, instead of the sovereign debt of the region's governments, it will involve the commercial banking sector.
President Draghi promised to do whatever it takes to preserve the euro. If the ECB is to provide economic assistance to the
Eight years after the global financial crisis, the world economy as a whole looks mediocre, and Europe's looks bleak at best.
This resurgence in far-right ideology is partly due to security concerns, but, as in the U.S., is also a response to Europe's legacy economic woes. This far-right momentum, if continued, will prove to be a perverse response to the crises facing Europe, only exacerbating economic pain.
As the European economy continues to stall and as there is still a lack of active, coordinated fiscal policy in Europe and the Eurozone, political turmoil will continue at the polls and in government bond markets.
The Spanish elections in December provided proof, if anyone needed it, that the fight over the economic and social future of Europe is far from over.
With so much financial market volatility this year, we should look at the extent to which central banks have been the primary policymaker in many countries; and points to what they can and cannot do going forward.
The global financial crisis that shook virtually every country, government, and household in the world in 2008-09 gave way to a frustrating "new normal" of low growth, rising inequality, political dysfunction, and, in some cases, social tensions. Now this new normal is getting increasingly exhausted.