Wille Fahler at the Ministryoftruth gives an interesting take on the economic crisis in On Money & Recessions - Recessions are not the problem. The difficult question is if this could mean that the many large programmes enacted by governments all over Europe are in fact bad investments? What do you think?
The German and Swedish finance ministers, Peer Steinbrueck and Anders Borg, openly criticized the European Commission, accusing it of posing too many problems on the case of the national aid plans to the banks. From a Swedish point of view, it is interesting that minister Borg is criticising the commission so openly, in his opinion on how to restore confidence in the credit system. Increasingly the center-right government has very active and very critical of policies in Europe. Another example is when Trade minister Ewa Björling criticises the ban on Swedish exports of the smokeless tobacco known as snus.
Despite of opinion in those particular issues, it can be regarded as positive that Sweden increasingly uses its voice as a member. That is quite a change.
Pingat på Intressant
The global financial crisis is testing the eurozone.
Tony Barber of the Financial Times writes about the ever-widening spread between the yields on German and Italian 10-year government bonds, implying that investors lack full confidence in Greek and Italian fiscal policies. While these problems are created by the policies of the Greek and Italian governments themselves, it also shows an uncertainty among investors that all nations in the eurozone are economically strong and fiscally disciplined enough to share the same currency over the long term.
Continue reading ...