Sentiment among German companies has deteriorated further at the beginning of the year. The ifo Business Climate Index fell to 85.2 points in January, down from 86.3 points in December. Companies assessed their current situation as worse. Their expectations for the months ahead were also once again more pessimistic. The German economy is stuck in recession.
Economics
Richard Murphy: The government does not spend taxpayers’ money: that clears the government’s debt to the Bank of England
Richard Murphy explains that taxes do not finance govenment spending, but helps to pay down debts. A government creates it own funds or borrows money when it needs it. The idea that a government cannot […]
EU politics
Thomas Fazi – Europe’s insurgent Right won’t change anything
The right-wing populists do not have a common agenda on Europe’s most pressing issues, and when they get a sniff of power they tend to bend towards the EU establishment anyway. In ‘Unherd’. Read the […]
Austerity
Yanis Varoufakis: Merkel’s Comeuppance is Europe’s – and the World’s – Misfortune
Yanis Varoufakis is right, he predicted the results of Germany’s austerity policy years ago. But the Germans, with their typical hubris, did not listen. They know better. If you are wondering why the EU’s political […]
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