Fundamentally, this proposed merger isn’t about creating a robust and profitable bank. It is all about German politics. Germany would suffer considerable loss of face if its largest bank were forced into the ignominious European bank resolution procedure, with creditors bailed in and shareholders wiped. How the Italians would laugh…
So much for the myth that the private sector is cheaper and better. The housing crisis is not a demand side problem, but a supply side, as companies seek excessive profits. Read here
That monetary policy has lost its effectiveness is common knowledge, although neo-liberal governments and economists continue their policy of pretend and extend. Bill Mitchell addresses the political aspect of fiscal policy as the alternative. Read […]
Interesting initiative in the UK to launch a new socialist party. In ‘International Viewpoint’. Read the article HERE.
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