Posts Tagged ‘Europe

Spiked has published my review of two contrasting books on the European Union. I will upload the full text over the weekend.

The eurozone seems to have stumbled over one of the most fundamental elements of its plan to create a more integrated economic bloc. Its plan for banking union is making exceedingly slow progress. Last week the European Commission, the executive arm of the European Union, announced its plans for a Single Resolution Mechanism for eurozone […]

This is my latest cover story for Fund Strategy magazine. It is written mainly from the perspective of British taxpayers and investors. I hope to write a more political article covering some of the same themes before too long. Until recently investors could make a cardinal distinction between tax evasion and tax avoidance. Evasion was, by definition, […]

Those who think the stabilisation of the markets means that difficult questions about the European Union have been solved are naïve. On the contrary, some of the most fundamental debates about the EU remain unresolved. Understanding the nature of European institutions means divining the forces driving integration. One of Europe’s most astute political commentators argued […]

This is my cover story on the upcoming German elections for Fund Strategy magazine. The associated graphics can be found here. The German elections on 22 September are likely to be important for the whole of Europe. Whatever the complexion of the new government, it will play a central role in deciding the future shape […]

This article on the eurozone was written for the June issue of IPE (Investment & Pensions Europe) magazine. It is more technical than usual and, given that I quote several people, the views are not entirely my own. In July 2012, the President of the European Central Bank (ECB), Mario Draghi, gave a landmark speech […]

This is my Perspective column from this week’s Fund Strategy magazine. Sometimes important questions can be buried in nerdy technical discussions. This is certainly the case with the arcane debate about the eurozone’s Target2 imbalances. If those who proclaim their importance are right they reveal a new dimension to the financial challenges facing the currency […]

This is my Perspective column from this week’s Fund Strategy magazine. When is a euro not a euro? The question might sound philosophical but the Cyprus crisis has posed it in brutally practical terms. Recall that the eurozone is meant to be a currency bloc. Therefore, at least in theory, a euro in, say, Germany […]

This week’s Perspective column looks at the Cyprus deal. Although the article was submitted last Monday, with a lot happening in the interim, in some respects (such as the principle of taxing bank depositors) things have moved full circle since then. Depositors with less than €100,000 in savings will no longer be subject to the […]

Let’s take a hypothetical example to illustrate the hopeless character of much financial punditry on recent elections. A recently formed populist party has done well in the general election in a large European country. It has won a large number of votes although not enough to form a majority government. A financial expert appears on […]