Spence, Shiller, and Roubini

1. Michael Spence argues that the nature of the current crisis will determine the regulatory reaction. Scope of regulation will increase.
The current crisis has come to be called a “balance-sheet recession” of global scope and tremendous depth and destructive power because of its origins in the balance sheets of the financial and household sectors. Extreme [...]

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On Germany

Joschka Fischer on the shift in Germany’s view of EU:
Europe today is no longer seen as the key project in German politics in which people are willing to invest an essential part of their political capital – and thus of their own future. Rather, 20 years after the fall of the Berlin wall, the reunited [...]

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