European Stability Mechanism
The EU’s tilt toward centralization
The European Commission has proposed creating a European Ministry of Economy and Finance, and transforming the European Stabilization Mechanism into the European Monetary Fund, controlled by Brussels. These steps toward economic centralization are dangerous for Europe’s competitiveness. What it needs is diversity and regional competition.
Greek bailout gives hope but more taxes and austerity to come
Five months of tough negotiations have delivered a bailout package for the Greek economy which means it can survive – for now. Now the coalition government has to introduce higher taxes and more cuts to pay for the lifeline. But questions remain whether the government will survive to deliver on the new targets it has set. ...
Threats loom for Germany’s federal budget
The current situation of Germany’s federal fiscal affairs seems comfortable at first glance, but the future drain on the country’s budget is likely to be dramatic as Germany faces a demographic timebomb and future commitments. GIS expert Prof Dr Michael Wohlgemuth takes a look at the current situation and the future debt in the second of his four-part series. ...