Economia
Rebuffing calls that Germany do more to support the faltering southern economies, Dr. Dombret said:
- Can The Euro Area Hit The Rewind Button? - Barry Eichengreen
Num artigo do passado dia 23 de Julho, Eichengreen considera que a criação do euro foi um gigantesco erro: "Creating a single currency without also creating a single bank regulator, an emergency lender, and a credible set of fiscal rules gave...
- The Euro: Monetary Unity To Political Disunity?
A common currency is an excellent monetary arrangement under some circumstances, a poor monetary arrangement under others. Whether it is good or bad depends primarily on the adjustment mechanisms that are available to absorb the economic shocks and dislocations...
- A Crise Da Dívida Europeia
Understanding the European Crisis Now Countries with too much sovereign debt have increasingly found it difficult to raise the money they need at affordable rates in the financial markets. At the same time, banks in many of these countries have come...
- Os Dois Lados Da Economia Alemã
"... Germany is rightly known for Porsches and BMWs that are coveted by affluent buyers around the world, as well as much of the machinery that keeps factories running from China to Michigan. Alongside the export juggernaut, though, is another, creakier...
- Foi A Alemanha Que Mais Ganhou Com O Euro
Empirical and Thematic Perspectives Germany’s “Windfall” from Euro-Area Membership and European Imbalances In an essay published last week, we argued that European monetary union, coupled with Germany’s extraordinary wage restraint, has...
Economia
A regra de ouro das finanças internacionais
The Golden Rule Reinterpreted
Peter Schiff
In an April speech in Berlin, Dr. Andreas Dombret, a member of the
Executive Board of the Deutsche Bundesbank (the German central bank),
offered a startlingly frank assessment of the current problems in
Europe. Although his comments were meant to apply to the tensions and
imbalances that exist between the northern and southern tier of the
17-member eurozone, they shed inadvertent light on the broader global
economy.
...Exchange rate movements are usually an important channel through
which unsustainable current account positions are corrected....In a
monetary union, however, this is obviously no longer an option. Spain no
longer has a peseta to devalue; Germany no longer has a deutsche mark
to revalue. Other things must therefore give instead: prices, wages,
employment and output.
The question now is which countries have to shoulder the adjustment
burden. Naturally, this is where opinions start to differ. The German
position could be described as follows: the deficit countries must
adjust. They must address their structural problems, reduce domestic
demand, become more competitive and increase their exports.
....
Mais
loading...
- Can The Euro Area Hit The Rewind Button? - Barry Eichengreen
Num artigo do passado dia 23 de Julho, Eichengreen considera que a criação do euro foi um gigantesco erro: "Creating a single currency without also creating a single bank regulator, an emergency lender, and a credible set of fiscal rules gave...
- The Euro: Monetary Unity To Political Disunity?
A common currency is an excellent monetary arrangement under some circumstances, a poor monetary arrangement under others. Whether it is good or bad depends primarily on the adjustment mechanisms that are available to absorb the economic shocks and dislocations...
- A Crise Da Dívida Europeia
Understanding the European Crisis Now Countries with too much sovereign debt have increasingly found it difficult to raise the money they need at affordable rates in the financial markets. At the same time, banks in many of these countries have come...
- Os Dois Lados Da Economia Alemã
"... Germany is rightly known for Porsches and BMWs that are coveted by affluent buyers around the world, as well as much of the machinery that keeps factories running from China to Michigan. Alongside the export juggernaut, though, is another, creakier...
- Foi A Alemanha Que Mais Ganhou Com O Euro
Empirical and Thematic Perspectives Germany’s “Windfall” from Euro-Area Membership and European Imbalances In an essay published last week, we argued that European monetary union, coupled with Germany’s extraordinary wage restraint, has...