Corruption
Bloomberg: KPMG, EY Reported to Police Amid Danish Laundering Probes
The big four auditing companies are caught up in almost every major financial scandal in Europe. Now in Denmark. Read here
Financial Institutions
Austerity
Emma Clancy – The eurozone’s ‘soulless market’ and its thuggish enforcers
The EU hegemon Germany has rigged the Euro to serve its interests. Germany has been the big winner, having benefited by €1.9 trillion from the euro between 1999 and 2017, or around €23,000 per person. […]
Economics
Bill Mitchell: ECB denial is just embarrassing
Understanding the failures of the European Central Bank Read here
Corruption
Reuters – Explainer: Europe’s money laundering scandal
A nice summary of EU money-laundering – up to now. This story still has a lot of road ahead of it as the US authorities tend to be more strident in their investigations (see the […]
Economics
Bill Mitchell: The effectiveness and primacy of fiscal policy – Part 3
“This is the final part of my three-part series on the why I have confidence in the primacy of fiscal policy over monetary policy and eschew any proposals, by other Modern Monetary Theory (MMT) advocates […]
Finance
Vox: Elizabeth Warren wants CEOs to go to jail when their companies behave badly
If the EU introduced a similar law they would have to start a programme for building new prisons. The City of London would fill one or two, Volkswagen and Deutsche Bank one as well. Read […]
Economics
Katie Kedward – Why It’s Time to Abandon the Myth of Central Bank Independence
Monetary policy should serve the interests of people and planet, not free market ideology. Katie Kedward is a Postgraduate student in Ecological Economics Cross-posted from Open Democracy On 23 October 2008, the former Federal Reserve […]
Economics
Spencer Veale – Modern Monetary Theory and Positive Money: Shadow Banking
As part of our series of blogs examining the relationship between Modern Monetary Theory and Positive Money’s proposals, this guest post by Spencer Veale examines the shadow banking sector in the context of that relationship. […]
EU politics
Yanis Varoufakis – Why the Deutsche Bank merger with Commerzbank must be stopped
The official story is one of creating a national champion, a German bank large enough to compete with American investment banks. The truth is far less heroic and a lot more sordid than that. Here […]
EU politics
Emma Clancy – Brussels’ plan for bad loans is a second bailout for the banks
“Moving almost a trillion euros out of the regulated and relatively transparent banking sector into the opaque and almost totally unregulated shadow banking sector is incredibly misguided and will pose massive new risks to financial […]