In Italy High Unemployment Is Good News Major media look for a "silver lining" where there is none WASHINGTON – If you really, really insist on finding the proverbial “silver lining” in rather depressing news, here is...
The Real Trouble With The Euro The EU monetary union project was based on bad assumptions. Too many differences among Eurozone countries WASHINGTON – The media love financial crises. And now they have the deteriorating Greek situation to talk about. I have...
Optimistic Mood In Athens? The Greeks want to believe that the Syriza-led Government will perform a miracle. But this is impossible WASHINGTON – News reports from Athens indicate that the Greeks are feeling much better these days. Since the recent...
The Greek Economy Never Recovered – Now It is Once Again In Crisis All the aid packages ($ 306 billion) fixed nothing. Sky high debt, unemployment at 26% and a collapsed stock market WASHINGTON – We were told months ago that Greece, the ultra-sick member of the Eurozone, was essentially out of...
The Bad “Lesson” of The EU Debt Crisis Is That There Will Always Be A Bailout Other underperforming European economies know that there is a safety net. But this creates no incentive to really improve the fundamentals By Paolo von Schirach July 31, 2013 WASHINGTON – The situation in Europe turned from really dramatic into just...
Martin Feldstein’s Recipe For Southern Europe: Stimulus Now But Combined With Credible Public Spending Cuts Sensible idea. However, the problem is that "Club Med" is too tired and too weak. Limping along is the best it can do By Paolo von Schirach Related story: https://schirachreport.com/index.php/2013/07/08/europe-will-continue-bailing-out-its-weak-southern-members/ July 9, 2013 WASHINGTON – In a recent piece (see link above)...
Europe Will Continue Bailing Out Its Weak Southern Members This endless financial aid program is not sustainable. What will Germany do after its political elections? By Paolo von Schirach July 8, 2013 WASHINGTON – Back in 2009, at the very beginning of the Eurozone...
Europe’s Problems Go Way Beyond How To Deal With Austerity – The EU Should Seriously Rethink Who Belongs and Who Does Not – The Poor South Will Never Catch Up By Paolo von Schirach April 24, 2013 WASHINGTON – Recently the WSJ provided a lengthy insight into Germany’s role...
Praise For Mario Draghi Is A Way To Forget That Europe’s Structural Economic Problems Have Not Been Fixed – The Financial Situation Is Much Better; But The Economies Of Southern Europe Remain Hopelessly Weak By Paolo von Schirach January 20, 2013 WASHINGTON – I am really worried about too much praise...
Europe Avoided Disaster – But The Economies Are Fragile And So Are The EU Institutions – Expect Current Weakness To Continue By Paolo von Schirach January 15, 2013 WASHINGTON – These days in Europe there is a far...