The Portuguese and The Crisis: An analysis – Timothy Bancroft-Hinchey – English pravda.ru

Looking back over some of my most popular blogs, I think this is worth a read

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European flag outside the Commission European flag outside the Commission (Photo credit: Wikipedia)

Frequently, I take exception as to what Timothy Bancroft-Hinchey writes in Pravda. However, the following, most popular, article on Portugal is excellent and a MUST READ, in my view. Check it out!

via The Portuguese and The Crisis: An analysis – English pravda.ru.

Sadly, Bancroft-Hinchey spoils an otherwise excellent story with his conclusion which is designed for Russian popular-ism.

It seems uncanny but those observers outside Europe are able to see more clearly the unfolding economic, social and political crisis, like Paul Krugman, whereas the European Commission and people like Olli Rehn are blinkered, driven by ideology rather than evidence based policy.

Any thoughts on Portugal?

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Open Europe Blog » Blog Archive » What to expect from the Commission’s new economics team

Southern europe

Southern europe (Photo credit: Wikipedia)

This is an insightful article and is strongly recommended for a read. Check it out!

via Open Europe Blog » Blog Archive » What to expect from the Commission’s new economics team.

Despite, the depressed state of Europe’s economy, don’t expect too much too quickly from the new economic team at the European Commission. Let me give you a flavor:

While Pierre Moscovici holds the Economic and Financial Affairs post (essentially Olli Rehn’s successor), he will be overseen by the Vice Presidents (VPs) for Jobs, Growth, Investment and Competitiveness and the Euro and Social Dialogue – Jyrki Katainen and Valdis Dombrovskis respectively.

In practical terms, there is no early reprieve for Southern Europe which has been forced to follow excessive austerity by the hard views of the European Commission. Countries like Greece, Cyprus, Spain, Portugal, Italy and France will be forced to maintain unnecessarily high levels of unemployment because Germany is not prepared to inflate – this is all as a result of the fiscal compact set up at the time of the Euro.

Ultimately, it will once again take speculators to push Germany reluctantly to change policy or face up to the break up of the Eurozone.

Thoughts?