The late-night decision on 4 February by the European Central Bank to reject Greek bank collateral for monetary policy operations will, I confidently predict, precipitate not just a run on Greek banks; not just greater price instability across the Eurozone – but ultimately, the collapse of the fantastic machinery that is the ‘self-regulating’ economy of the Eurozone. […]
Posts Tagged ‘Deflation’
Euroland’s Utopian foundations shaken by its central bank shirking its duties
Feb 12th, 2015 by Ann Pettifor.
Japanisation: the economics of extended stagnation
Aug 25th, 2011 by David Osler.Neologism of the week award goes to the Financial Times for coining the term ‘Japanisation’ as a shorthand description for current economic trends in Europe and North America. You can read just what various commentators intend by the word here, but if you want it in plain English, the underlying idea is that the rest […]
