Europe’s Slow Financial Reforms – Simon Johnson – NYTimes.com

EU Economic and Monetary Affairs Commissioner

EU Economic and Monetary Affairs Commissioner (Photo credit: Wikipedia)

This is an excellent analysis from Simon Johnson, published in the Economix column of the NYT. It’s a MUST READ, in my view.

via Europe’s Slow Financial Reforms – NYTimes.com.

Let me cite the NYT”s bio on Simon Johnson:

Simon Johnson, former chief economist of the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at the M.I.T. Sloan School of Management and co-author of “White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You.”

This is a very hard but realistic and scholarly look  at financial reform in Europe. This should be compared to optimistic noises coming from Berlin and Brussels, and the confusing insights from Olli Rehn.

For the busy reader, let me summarize:

It’s still the banks stupid but especially those in Germany and France!

So let me turn it around and ask an open question:

What ever happened to the French and German banks that had all that Greek debt and who’s protecting them?

Any thoughts?

 

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Olli Rehn’s blog » Blog Archive » Recovery is within reach

Olli Rehn‘s blog issued yesterday is a MUST READ in my view. Check it out!

Olli Rehn’s blog » Blog Archive » Recovery is within reach.

Olli Rehn shared his views following the release of the Eurozone’s  growth statistics.

In terms of trends, I sense that many parents and grandparents will probably change the popular story about the fairies:

Q: Where do the fairies live?

Olli Rehn

Olli Rehn (Photo credit: lisboncouncil)

A: Brussels!

Any thoughts?

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