The Problem with Labour Moblity: Opportunity is not Enough

It is a well known fact that labour mobility is low in the E.U, despite the disparate strength of member countries' economies. In fact, only 0.2% of EU citizens move to work in another country in any given year. Far lower than the 2% to 2.5% of Americans who change States in any given year. … Continue reading The Problem with Labour Moblity: Opportunity is not Enough

There Is No ‘Competitive Economy’ On/Off Switch

As anticipated by many observers, elections in Greece ended in stalemate as many Greeks elected to support the Coalition of the Radical Left and other anti-austerity parties over that the two traditional parties, New Democracy and PASOK. One of the bailout conditions that the leader of the Coalition of the Radical Left,¬†Alexis Tsipras, refuses to … Continue reading There Is No ‘Competitive Economy’ On/Off Switch

Across the Eurozone, Citizens Vote Out Austerity Governments

World stocks continue to oscillate with every bond sale and finance minister utterance in the 17 member Eurozone. Yet, the underlying reality is that the situation hasn't changed at all. Matthew O'Brien has a nice summary in The Atlantic. It's tragicomic. Southern Europe already has an unemployment crisis. Their depression-levels of joblessness are a dagger … Continue reading Across the Eurozone, Citizens Vote Out Austerity Governments

Opposing Political and Economic Forces Set to Tear Eurozone Apart

Nouriel Roubini has criticized the European Central Bank for being a lender of last resort - a buyer for European bonds when interest rates become unsustainably high. However, politics is stopping the use of monetary policy, which could soften the economic blow to countries facing severe austerity measures. In a NY times piece today, a … Continue reading Opposing Political and Economic Forces Set to Tear Eurozone Apart