Last week, the EU finance ministers (the ‘Eurogroup’) met (June 13, 2019) in Luxembourg as part of their regular schedule. There was a lot of talk in the lead-up to the meeting whether Emmanual Macron’s push for a more coherent EU fiscal capacity to act as a counter-stabilisation capacity for the beleaguered Economic and Monetary Union (EMU). As is normal, there was no progress made and the press reports said that the finance ministers “continued to clash over almost every feature of the new fiscal tool, including the source of funding.
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 […]
The burning of fossil fuels kill ten million persons through air pollution alone. There are so many reasons to leave fossil fuels in the ground. Read here
Ann Pettifor: Why the Federal Reserve is as much to blame for Turkey’s economic crisis as Donald Trump
It is necessary to point to the Fed’s actions to understand tremors in world markets, but central bankers should never have been held solely responsible for the restoration of macroeconomic stability Read here