• The deal, it says, will cut Greece’s debt-to-GDP ratio to 120.5% of GDP by 2020, in line with previous targets. This will be achieved by private creditors taking a deeper cut on their existing Greek bonds, of 53.5% of their face value. The European Central Bank will also contribute, by passing the profits from its Greek bondholdings onto the national central banks, who will then pass it onto Greece. … [Read more...] about Europe in turmoil: five years of economic crisis
The reopening of pubs, campsites and hairdressers fuelled a rebound in activity, while car sales exceeded pre-crisis levels for the first time. After widespread stoppages during lockdown, manufacturing activity recovered and housebuilding activity rose, although the ONS said production and construction levels still remained well below previous levels. … [Read more...] about UK’s economic recovery from Covid-19 crisis continues
The inference is clear. Men like More are the past. A new breed of men, pragmatic and servants of the state not the church, are on the rise. “He can converse with you about the Caesars or get you Venetian glassware at a very reasonable rate. Nobody can better keep their head, when markets are falling and weeping men are standing on the street tearing up letters of credit.” … [Read more...] about Wolf Hall – the economic lessons
The five men, who had been attending a dinner party, had openly discussed the stagnant economy in the militarised nation state as well as the need for industrial reform as it continues to produce few consumer goods for its impoverished citizens. … [Read more...] about North Korea ‘executes five Economic Ministry workers after they criticised Kim’s policies at a dinner party’
Dan Drezner, a professor of international politics at the Tufts University School of Law and Diplomacy, has suggested four key elements that can help sanctions succeed. The first is that demands are specific and clearly articulated. The second is that it helps if you are allies in some way with the country that you are sanctioning or at least that you do some business with that country. Number three is to go after the money, not the products. … [Read more...] about Germany is mulling economic sanctions against Russia. Do they actually work?