de Alemania, las preocupaciones sobre posibles efectos en cadena en toda la unión monetaria están en aumento. Cayendo por debajo de las expectativas Las sido peor para que las grietas comenzaran a mostrarse en la mayor economía de Europa. La zona euro en su conjunto ya enfrenta fuertes vientos en contra, con
On January 1, some 300 million Europeans entered a new financial era. They surrendered their own currencies in coal-and-steel trading arrangement and expanded to a Common Market and the present European Community of fifteen countries. At a meeting in Maastricht, The Netherlands, in December 1991, the members decided to form a currency union with certain participation criteria--namely, national budget deficits of no
recently, Germany has been the seemingly unbreakable workhorse that has pulled the European economy back from the brink and kept it ticking along through a myriad of economic outlook, concerns over potential knock-on effects on the entire monetary union are on the rise. Falling Below Expectations Trade tensions, the threat of a
The US government and the European Commission (EC) recently slammed Germany for running large current account our goods or services. Furthermore, Germany’s current account surplus with other Europeans or euro zone members has been cut in half between 2007 and 2012, and To criticize this trend is to criticize the stated reasons behind the EuropeanUnion’s creation in the first place. For reasons that are hard to understand, the
and downs of the economic cycle, the Federal Reserve and, to a lesser extent, the European Central Bank, have most likely been their main architects and the culprits when they are least able to bear it. In comparison, the economies of the EuropeanUnion are in a somewhat less poor state (if we do not consider the expansionary rigidities, particularly in the labor market, which tend to make recessions in Europe longer and more painful). The expansionary policy of the European Central
suffer because their burden is large relative to large enterprises. Also, European banks are facing increasingly costly reporting requirements since the Bank’s greening of the financial sector has added additional burdens. EuropeanUnion environmental policies have imposed numerous rules on farmers, making their subsidized as central banks continued to reduce their financing costs. In Europe, extensive debt-financed government aid prevented the otherwise drastic
the early 1960s to the 1970s. Sound money did become a political force both in Europe and the US despite the most effective groupings’ advancement of the flawed devaluation of the mid-1980s created the political dynamics towards monetary union which proved fatal to discount margin (DM) monetarism. After the waxing and emperor’s-new-clothes econometrics and expectations inertia. The newly established European Monetary Union followed suit. This all occurred just as nonmonetary
With scarcely a month left until the date Britain is scheduled to leave the EuropeanUnion, the monetary czars at the top of the world’s central banks are increasingly and even a slight chance of another fall in interest rates over the next year. The European Central Bank has, predictably enough, reacted to the threat of a no-deal
The night after the vote for an independent United Kingdom from the EuropeanUnion had concluded I found myself at dinner with my wife trying to explain why the is nothing more than an obstacle for entrepreneurs and their employees across Europe. By threatening greater taxes and tariffs as a result of a vote for a more
de los setenta. El dinero sólido se convirtió en una fuerza política tanto en Europa como en los Estados Unidos a pesar de que las agrupaciones más eficaces del dólar a mediados de los años ochenta creó la dinámica política hacia la unión monetaria que resultó fatal para el monetarismo de los márgenes de descuento
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.