COMMENT. France and Great Britain are struggling with excessive national debt and political disaffection. But one is forced to make a virtue of necessity, while the other is tempted into inaction.
COMMENT. Nationalism and constructivism are destroying the foundations of global prosperity. Welfare losses for everyone are the likely scenario.
STUDY. Measured by their price-to-asset ratio, stocks are more expensive than ever. So is there another bubble?
COMMENT. Theorists of market failure have brought about the hopeless overburdening of the state itself. The misery has many fathers, from liberals to socialists.
COMMENT. Increased life expectancy is a gift, but it requires each of us to make adjustments.
The Minsk II Agreement is a tactical pause in combat. Russia will not reveal either the Crimea or the land gains in eastern and southern Ukraine.
STUDY. The DAX companies have made good provisions to be able to pay future company pensions even in the face of demographic change. We explain how they have done it.
STUDY. Germany is becoming less attractive as a business location: dilapidated infrastructure, a growing public sector, and expensive energy are hampering competitiveness. Reforms are long overdue.
COMMENT. The ECB is ready to nip any new euro crisis in the bud. In addition, the policy of shifting debt to the European level is likely to be pushed forward.
STUDY. The global real estate market, a key pillar of the world economy, could come under pressure in the long term. What is the significance of this market, and what are the reasons for this?
COMMENT. In an EU comparison, Italy's pension provision for young people scores poorly. Spain, France and Germany have similar problems. Solutions can be found in Sweden.
COMMENT. The Bank of Japan has bought large quantities of government bonds and ETFs. It is now becoming clear that the large asset holdings are severely limiting its independence in maintaining...
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