In Norway opposition Labor Party withdraws support for oil exploration off Lofoten islands in Norway’s Arctic, creating solid majority in parliament to keep area off limits for oil. How long that will hold is anyone´s guess, but it is a step in the right direction.
Economics
Bill Mitchell: Covid-specific inflationary pressures are dominant and are transitory
“I am maintaining my view that the current inflationary spikes are being driven by the total abnormal circumstances the world has found itself in as a result of the pandemic.” Read Here
EU politics
Politico – Europe’s socialists and liberals call truce with von der Leyen ahead of no-confidence vote
The centrists always protect the powerful in the end. Read the article HERE.
Austerity
Ashoka Mody: Fall of the eurozone’s saviours: Why Emmanuel Macron is following Matteo Renzi’s path to political oblivion
They inherited poorly performing economies that bred widespread social and political discontent, argues Ashoka Mody, and both leaders unwisely followed the traditional European recipe of ‘labour reforms’ Read here
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