Europe/Middle East

  • Startling developments from Greece seem to occur daily.

    Greece's Latest Confounding Developments

    Greece’s bailout extension expires in May this year and its inclination towards the members of BRICS seems inevitable.  For long, Greece’s economy has been bringing troubling news to the Eurozone. The EU members have time and again tried their best to keep Greece in the common currency zone but bailouts and downgrading has got the worse out of Greece. With high unemployment rate, around 60% of Greek population (under 25) still remains unemployed.

    view 0

  • How to do business in Russia and really trying.

    A Russian Business Primer for the 21st Century

    Quarter of a century on from the heady days of perestroika and the Russia Federation still presents an intriguing and tough-to-navigate world for businesses. The collapse of the command economy and the gradual opening up of large and potentially fruitful markets has led to a steady influx of foreign firms keen to operate in the post-Soviet world. Examining the political environment for business in a Russia dominated by its president, Vladimir Putin, will explain the peculiarities of the business environment they face.

    view 0

  • Germany is not happy with Greece's efforts.

    Where is Greece on Germany's Priority List?

    After several months of tense and often antagonistic negotiations, Greece and its creditors appear to be at a stalemate. In order to receive a further bail-out funds, the Syriza government has proposed a set of reforms that in the view of Germany, the ECB and the IMF “don’t make the grade”.

    To many, any compromise by Syriza represents a tragic surrender of its principles and a blow to the emerging anti-austerity sentiment rising across Europe. As one Athenian commentator observed:

    view 0

  • There is precedent, but it may not help Greece label its debt odious.

    Greece's Debt Has Been Called a lot of Things, But Odious?

    There is a legal concept called "odious debts" that is traceable back more than a century.  The US helped create a precedent for it by denying Cuba's responsibility for the debt incurred under Spanish colonial rule.  The concept took on added significance in the post-colonial era more broadly. 

    view 0

  • Greece likely won't get far with the EU using game theory.

    Greece May be Over-relying on Game Theory

    As Greece prepares to go head to head with Germany again in a bid to settle rancorous talks over its debt burden and austerity policies, it can all sometimes seem like an elaborate game of chess. The media’s perception of one of Greece’s key negotiators heightens that feeling; finance minister Yanis Varoufakis, as an academic “game theorist” who really should have a crucial advantage over his adversaries in the cut and thrust of negotiations.

    view 0

  • Greece must understand the link between solvency and sovereignty.

    Greece's Tsipras is Playing Poorly with a Weak Hand

    Technical talks between Greece and its official creditors have bogged down. The purpose of the talks is for the creditors to have a better understanding of the true financial conditions of Greece in light of the disruption caused the election and the subsequent political uncertainty.  Tax collection suffered.  Economic activity slowed.  Deposits have left the banks.

    view 0

  • The latest UK budget covered a lot of ground and needs expert interpretation.

    A Panel of Experts Weigh in on the U.K. Chancellor's Fifth Budget

    Chancellor George Osborne has unveiled his fifth budget. Fifty days before the general election, it was a more optimistic set of announcements than the UK public has become used to, and Osborne made strong claims about the economic recovery, claiming a Tory government would take Britain “from austerity to prosperity”.

    Here our panelists give their take on what this budget means for the economy, business, healthcare, education and the environment.

    Economy

    Tony Yates, Reader in Economics, University of Bristol

    view 0

  • The UK's economy is the most unbalanced of all OECD nations.

    UK’s Debt-Fueled Recovery Could Prove Fragile

    Challenging the dangerous imbalances in the UK economy, where the banking sector contributes 450% of nominal GDP, is imperative. But weeks ahead of a general election, no one wants to redefine the rules of the game.

    view 0

  • The UK's creative set can't save Britain, but they can help.

    Checking in on the Value of the UK's Creative Set

    Despite recent success in generating jobs and overcoming the stresses caused by the financial crisis better than many other countries, the UK economy still has many problems. The economy faces a large balance of trade deficit, £34.8 billion in 2014, as well of course as a large amount of government debt.

    view 0