http://www.neurope.eu Editorial - New Europe News: The European News Source. en-us Copyright The Media Company S.A. info@neurope.eu (New Europe) kgougakis@neurope.eu (Kostas Gougakis) Mon, 23 Feb 2009 02:22:00 +0200 Mon, 23 Feb 2009 02:22:00 +0200 New Europe New Europe 5 http://www.neurope.eu/images/logo.jpg http://www.neurope.eu 100 35 http://www.neurope.eu/articles/99646.php It was Greece more precisely its fiscal crisis that triggered the discussion for the creation of a European Monetary Fund a new Eurozone organization that will probably be annexed to the European Central Bank ECB which will act as the watchdog of the monetary zone and apply the strong measures... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/99646.php Sun, 14 Mar 2010 19:47:00 +0200 http://www.neurope.eu/articles/99488.php The credit crisis which has sent the world spinning into a major real economy recession has not subsided. The depth and width of the financial leverage to the real economy in the Atlantic economic volume comprising the US the European Union and a number of other OECD countries like Canada... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/99488.php Mon, 08 Mar 2010 00:03:00 +0200 http://www.neurope.eu/articles/99332.php One after the other leaders of the western world are proposing each other should impose major controls on the completely uncontrolled international financial markets. Last week the Prime Ministers of Spain and Greece Luis Rodriguez Zapatero and George A. Papandreou discussed this issue with the British Prime Minister Gordon Brown.... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/99332.php Mon, 01 Mar 2010 12:14:00 +0200 http://www.neurope.eu/articles/99176.php Instead of helping Greece to avoid being ripped off by the hawks of the completely uncontrolled world derivatives market the Eurogroup the council of the 16 Eurozone finance ministers who gathered last week in Brussels pressed Athens to reveal its Plan B to mend the countyrsquo;s ailing public finance. Greece... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/99176.php Sun, 21 Feb 2010 20:50:00 +0200 http://www.neurope.eu/articles/99131.php On many occasions this column has stated that the Eurozone can cover its borrowing needs within the 16 countries money zone while the United States has to address the world markets in order to sell its state bonds. The support offered last week to Greece and the other ailing Eurozone... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/99131.php Sun, 14 Feb 2010 23:48:00 +0200 http://www.neurope.eu/articles/98970.php US President Barack Obama last week unveiled the 2011 American federal budget with an unheard of deficit of $1.56 trillion or 10.2% of the US Gross Domestic Product. At the same time he employed the usual rhetoric about the need to cut state deficits but he concluded this cannot be... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98970.php Sun, 07 Feb 2010 21:12:00 +0200 http://www.neurope.eu/articles/98822.php European Central Bank chief Jean-Claude Trichet in an interview with the German language journal Focus last week in which he talked about thenbsp; ldquo;Greek problemrdquo; did not restrict himself to the usual directions and advice. This time he singled out Greece from all Eurozone countries with large fiscal deficits and... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98822.php Sun, 31 Jan 2010 20:53:00 +0200 http://www.neurope.eu/articles/98662.php Professor David Henderson of Britain an ex-director of the Statistics Department of OECD and today partner to the famous British Institute of Economic Affairs IEA said recently that his fellow countrymen and women are now enduring the worst thrift crisis since 1944 when food was rationed by the government. The... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98662.php Sun, 24 Jan 2010 17:53:00 +0200 http://www.neurope.eu/articles/98515.php The news that China was the worldrsquo;s largest exporter in 2009 surpassing Germany and pushing Europersquo;s largest economy into second place sent strong tremors to all Western capitals not only to Berlin. Germany was the worlds largest exporter for many years but over the last decade China had made steady... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98515.php Sun, 17 Jan 2010 22:57:00 +0200 http://www.neurope.eu/articles/98362.php With the American and British investment banks continuing their crisis-creating tactics as if nothing happened over the past two years their Icelandic counterparts now appear asking for a full coverage of their foreign depositors lenders after having gone bust themselves and managing to nationalize their losses. At this point it... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98362.php Sun, 10 Jan 2010 20:36:00 +0200 http://www.neurope.eu/articles/98212.php The credit crunch and the real economy recession which brought western countries to their knees during the past two year are now followed by other uncertainties. The new economic environment that emerged is however very well depicted in what happened with one major western bank. The Royal Bank of Scotland... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98212.php Sun, 03 Jan 2010 21:24:00 +0200 http://www.neurope.eu/articles/98064.php In the aftermath of the last credit crunch which forced the governments of the US the European Union countries and a large number of other industrial or developing countries to support the banking sector with a round sum of 11 trillion dollars some countries now face the difficult problem of... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/98064.php Sun, 13 Dec 2009 00:40:00 +0200 http://www.neurope.eu/articles/97953.php What capitalism do we want and what kind of an economic system is the one in which we live? This question is obviously philosophical or probably metaphysical given that most of us in the western world has a very down to earth and concrete perception of the way we are... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97953.php Sun, 06 Dec 2009 01:02:00 +0200 http://www.neurope.eu/articles/97805.php The large fall of the American dollar last past week vis-agrave;-vis the euro and the yen was the final act in the world economic play where market forces are to resume their forceful working. Until recently the weakness of the American money was attributed to the credit crisis and the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97805.php Sun, 29 Nov 2009 01:03:00 +0200 http://www.neurope.eu/articles/97665.php Bankers in New York and London and to a lesser degree in Frankfurt and Paris are now behaving in world markets as if nothing happened over the past two years. Of course it is not a matter of personal choice as many ldquo;free choicerdquo; stricken economists could think. Commercial and... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97665.php Sun, 22 Nov 2009 00:42:00 +0200 http://www.neurope.eu/articles/97518.php All the major stock exchanges on both sides of the Atlantic Ocean after making a deep downward correction during the last two weeks of October have now regained their confidence. In the face of it analysts ndash; people who make a good living out of those markets ndash; say that... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97518.php Sun, 15 Nov 2009 22:28:00 +0200 http://www.neurope.eu/articles/97368.php The greatest enemy of politicians is facts. It was always like that but this time a time-cherished truth will be proved once more on the occasion when the banks have it their way instead of working for the society with the society. nbsp;This column has repeatedly supported the fact that... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97368.php Sun, 08 Nov 2009 23:15:00 +0200 http://www.neurope.eu/articles/97238.php Coming out of this dreadful recession may become equally as difficult as being deep in it. The question here is to choose an economic and monetary policy mix to fight on two fronts. For one thing policies should make sure that the economies will not return to a deeper recession... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97238.php Sun, 01 Nov 2009 22:50:00 +0200 http://www.neurope.eu/articles/97092.php We have to choose: more public deficits and state loans or goodbye hopes for a resumption of the economy? This is the main dilemma governments face on both sides of the Atlantic. The most interesting prospect however is that those countries which appear closer to a new growth period such... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97092.php Sun, 25 Oct 2009 22:47:00 +0200 http://www.neurope.eu/articles/97037.php Last week the American banking giant JPMorgan Chase announced unbelievably high profits for the third quarter of the year to the tune of $3.6 billion. In the same quarter of 2008 those profits were only $527 million. According to the announcement 2009 profits came exclusively from the investment branch of... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/97037.php Sun, 18 Oct 2009 00:04:00 +0300 http://www.neurope.eu/articles/96864.php MANY economists among them Nouriel Roubini who predicted the ongoing credit crisis now say that the world is heading towards a new credit crunch. Their reasoning hinges on the obvious discrepancy between the real economy and stock exchanges. The divergence is more noticeable in the United States where the real... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/96864.php Sun, 11 Oct 2009 22:26:00 +0300 http://www.neurope.eu/articles/96684.php Jean-Claude Juncker prime minister of Luxemburg for 15 years and now president of the Eurogroup ndash; the political group overseeing the Eurozone since its creation 10 years ago an astute European with deep knowledge of the EU economy predicted that the European Union will suffer a 10-year long low growth... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/96684.php Sun, 04 Oct 2009 00:26:00 +0300 http://www.neurope.eu/articles/96510.php Almost all stock exchanges in the developed and developing world have risen 30 per cent afternbsp; this year. The stock rally was of course spearheaded by New Yorkrsquo;s Wall Street which are explained by the fact that stocks is the onlynbsp; American market thatnbsp; is rising. All othernbsp; US sectors... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/96510.php Sun, 27 Sep 2009 01:49:00 +0300 http://www.neurope.eu/articles/96327.php With the world economy set to recover slowly from the typhoon of the 2007-08 credit crisis and the developed economies having paid dearly the unlimited money spinning by the major western banks now we have the culpable party of this unseen before loss of income and production to pretend that... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/96327.php Sun, 20 Sep 2009 00:48:00 +0300 http://www.neurope.eu/articles/96144.php Well-informed sources in the European Central Bank stress that the central banking institution of the Eurozone is closely watching the liquidity situation of the 16 countries money zone. The issue at stake is obviously inflation. With the first signs of upward pressure on the price level the ECB will react... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/96144.php Sun, 13 Sep 2009 22:46:00 +0300 http://www.neurope.eu/articles/95972.php The Western economies are progressively coming out from under the recession and the first signs of an arrest of the fall of the Gross Domestic Product are being statistically established for Germany and France. This positive development brings about the need for the right economic policies to safeguard the transition... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95972.php Sun, 06 Sep 2009 18:37:00 +0300 http://www.neurope.eu/articles/95793.php Lord Turner the head of the powerful British Financial Services Authority did not only object that the new rules on bankerrsquo;s pay and bonuses were too loose but went on and said that the financial sector has grown to a socially unjustifiable size. In other words he meant that the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95793.php Sun, 30 Aug 2009 22:53:00 +0300 http://www.neurope.eu/articles/95612.php The American authorities government and Fed alike have recently spent another USD 900 billion out of public resources -taxpayers money or Fed reserves - to bail out financial firms and support the liquidity of the moneynbsp; market. We are not referring here to the rest of the rescue operations which... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95612.php Sun, 23 Aug 2009 23:53:00 +0300 http://www.neurope.eu/articles/95546.php Unemployment is becoming problem No. 1 in the Eurozone not only because the vast majority of the citizens in the 16 member states consider it their prime worry as shown in the July Eurobarometer but mainly because economists are predicting a slow resumption of economic activities toward the middle of... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95546.php Sun, 26 Jul 2009 00:17:00 +0300 http://www.neurope.eu/articles/95389.php No leader of those who gathered in Italy last week to attend the G8 summit did utter a word to question the hegemony of the American dollar as the worldrsquo;s main reserve money. And this despite many articles which were written in the international press saying that the leaders representing... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95389.php Sun, 12 Jul 2009 23:27:00 +0300 http://www.neurope.eu/articles/95339.php Despite the strong performance of the Euro vis-agrave;-vis the American dollar over the past few weeks the current parity between the two currencies reflects a victory for the United States in the strategic field which secured the unique position of the American money as the main reserve currency of the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95339.php Sun, 05 Jul 2009 23:39:00 +0300 http://www.neurope.eu/articles/95158.php On many occasions this newspaper has pointed out that the money which governments and central banks have spread around in the US and the Eurozone is a slowly ticking time bomb for the general equilibrium of the two larger economies of the world. Already the dollar is showing the first... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/95158.php Sun, 28 Jun 2009 00:02:00 +0300 http://www.neurope.eu/articles/94965.php On many occasions this column wondered how the three-month long rally on Wall Street and the European stock exchanges was being financed. The answer we gave was that the banks which spearheaded the price rise in the bourses had every reason to support this trend. But let us tell the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94965.php Sun, 21 Jun 2009 23:37:00 +0300 http://www.neurope.eu/articles/94754.php The governor of the European Central Bank Jean-Claude Trichet recently painted in much darker colours than before the short-term prospects of the Eurozone economy. After the meeting of the governing council of the bank at the beginning of this month in which the basic interest rate was kept steady at... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94754.php Sun, 14 Jun 2009 21:17:00 +0300 http://www.neurope.eu/articles/94611.php Last week the statistical service of the European Union released its last press release on the Eurozone saying that the economy in the 16 countries shrank by 4.8 percent in the first quarter of 2009 much more than expected. Early predictions were putting this at four percent. This came as... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94611.php Sun, 07 Jun 2009 18:49:00 +0300 http://www.neurope.eu/articles/94550.php Many people in international economic organisations such as central banks and the European Commission say that the end of this recession is approaching faster than we thought. All those analysts appear very happy with that. Others however such as the Vice President of the European Central Bank Luc Papademos nbsp;... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94550.php Sun, 31 May 2009 00:00:00 +0300 http://www.neurope.eu/articles/94238.php After downgrading the creditworthiness of Japan and Britain ndash; and trying to salvage their battered reputation- credit rating agencies now say that it is the turn of the USrsquo; Standard amp; Poorrsquo;s to focus on US fiscal deficits which are being inflated by the efforts of Washington to support the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94238.php Mon, 25 May 2009 09:43:00 +0300 http://www.neurope.eu/articles/94181.php Over the past eight weeks stock markets around the world have gained 40 percent to 50 percent. This has to undoubtedly be attributed to the early signs of a dawning resumption of activities in the real markets. Those early indications for an end to the present plague are scattered around... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94181.php Mon, 18 May 2009 13:31:00 +0300 http://www.neurope.eu/articles/94146.php What European Commissioner Joaquin Almunia said last week about the present and the future of the EU and Eurozone economy can be read in two ways. The easy first choice is to ldquo;stickrdquo; to his prediction that the EU will lose four percent of its GDP this year and that... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94146.php Mon, 11 May 2009 11:49:00 +0300 http://www.neurope.eu/articles/94090.php The International Monetary Fund is not a benevolent society. Its role as the financial controller and the banker of governments - mainly in the developing world - and its close relations with the United States administration have labeled it as one of the most conservative international institutions. On top of... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94090.php Sun, 03 May 2009 22:35:00 +0300 http://www.neurope.eu/articles/94035.php If ever there was a measure of a boom in financial services it must be the growth of investment funds. Since 2002 there was a rise of 31.6 percent to a huge 32 941 funds in Europe. To put this into perspective this total for Europe is four times that... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/94035.php Mon, 20 Apr 2009 14:41:00 +0300 http://www.neurope.eu/articles/93981.php G20 governments around the whole world are watching their economies dive deep into recession with unemployment rising to levels unknown over the past 20 years and the phantom of deflation overflying high in the turbulent financial skies. In such an environment ministers of economics and central bankers have embarked on... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93981.php Mon, 20 Apr 2009 12:09:00 +0300 http://www.neurope.eu/articles/93961.php Japan last week announced a hideously large plan to support its real economy with 15.5 trillion yen USD 150 billion after it lost half of its exports over the first months of this year. Along the same of thinking the European Central Bank is planning new measures to back the... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93961.php Mon, 13 Apr 2009 13:39:00 +0300 http://www.neurope.eu/articles/93915.php The word ldquo;numismaticrdquo; comes from the Greek term ldquo;nomisma rdquo; which means money. Literally however in Greek ldquo;nomismardquo; means ldquo;set by lawrdquo; and the word was meant to depict the social and legal convention to establish a means of transaction and deposit of value for the society to use. It... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93915.php Mon, 06 Apr 2009 02:40:00 +0300 http://www.neurope.eu/articles/93727.php The early sprig bloom in the worldrsquo;s stock exchanges that started toward the beginning of March has brought about discussions on its nature. Most analysts term it as a rally in a bear market but there are economists who say that this is the beginning of a new long-term upward... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93727.php Mon, 30 Mar 2009 04:38:00 +0300 http://www.neurope.eu/articles/93564.php The EU authorities in Brussels continue to raise the tones of their predictions on the dangers that lie ahead in the turns and twists of the economic crisis. They exceed by far the usual kind of advice to member states. The European Commission now speaks of an even deeper recession... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93564.php Mon, 23 Mar 2009 04:39:00 +0200 http://www.neurope.eu/articles/93513.php In a dramatic gathering last week the Eurogroup and the Eco/Fin Councils which regroup the Eurozone and the EU ndash; 27 financial Ministers Commissioner Joaquin Almunia who shapes the EUrsquo;s economic policies and the president of the Eurogroup Jean-Claude Juncker both acknowledged that the ongoing economic crisis has developed so... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93513.php Mon, 16 Mar 2009 00:34:00 +0200 http://www.neurope.eu/articles/93190.php Coming closer to the point when the interest rate ldquo;gunrdquo; against the crisis will remain without ammunition because the main European Central Bank rates are already at their lowest levels after a series of reductions the ECB has made clear that it will now employ a non-conventional policy instrument which... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93190.php Mon, 09 Mar 2009 11:24:00 +0200 http://www.neurope.eu/articles/93149.php For the first time after many months of turbulence in the financial markets and the generous backing granted the banking system in the Eurozone and elsewhere in the world European Central Bank Governor Jean-Claude Trichet said last week that he is alarmed over the fact that money flows recently were getting weaker and weaker. As... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/93149.php Sun, 01 Mar 2009 03:33:00 +0200 http://www.neurope.eu/articles/92958.php At last Germany understood that no Eurozone country can be saved alone in the financial turmoil that has struck all and every country of the world. Last week the German Finance Minister Peer Steinbrueck said that his country will not stand still and watch a number of fellow Eurozone countries... info@neurope.eu (New Europe) Editorial http://www.neurope.eu/articles/92958.php Mon, 23 Feb 2009 02:22:00 +0200