Mr. Hollande says that he will replace austerity with growth. Why didn’t anybody think of that before? Unfortunately, a vacuous slogan is underpinned by ineffectual proposals. Mr Hollande’s programme stresses small, badly-targeted boosts to public spending, while virtually ignoring the structural reforms that are the only route to sustainable growth.
I'm not sure why anyone found the outcome of the first round of the French presidential election a surprise – it was always expected to result in a Sarkozy/Hollande run-off. Even so, it has helped unsettle markets anew. The... more ››
Basta! After two years of reforms, Spaniards are all too familiar with the deadly ritual Europe’s strategy to fight the crisis has become. Every new reform package adopted is praised by European institutions and met with a... more ››
It is often said that travel broadens the mind. Not so for finance ministers gathering in Washington DC this week for the spring meeting of the International Monetary Fund and G20. For them, the agenda will seem wearily ... more ››