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Canada has discovered a new way to appoint central bankers; it just doesn’t know it yet

Tuesday, 16 August 2016
blog
In April, members of Canada’s parliamentary press corps thought they had uncovered some shenanigans over -- of all things -- the fiscal multiplier.

Greek Crisis, the Book. Or Actually Several of Them

Thursday, 11 August 2016
article
LANDON THOMAS Jr.
As the anniversary of Greece’s bailout deal approaches, there have been several memoirs, essays, a blistering critique of the International Monetary Fund’s policies in Europe and even a book of poetry that, from various perspectives, examine Greece’s torturous struggle to avoid bankruptcy.

Europe’s Future Will Be Decided at a Quaint Renaissance Italian Bank

Thursday, 4 August 2016
article
Italy’s third largest bank needs a bailout. What happens next could mean a revolution in Rome – or in Brussels.

A report on the IMF’s work in Europe exposes raw nerves over the handling of Greece

Wednesday, 3 August 2016
blog
It remains difficult to have a calm discussion about the Greece. Just look at the reaction to the release on July 28 of the Independent Evaluation Office of the IMF’s review of the handling the European debt crisis. Ambrose Evans-Pritchard of the Daily Telegraph called the IEO's conclusions a “lacerating verdict” on the IMF’s management of the “most damaging episode in the history of the Bretton Woods institutions.” Ian Talley of the Wall Street Journal said the watchdog’s report “gives credence to some of the fund’s harshest critics.” The Financial Times called the assessment “damning.”

Brexit Fudge

Wednesday, 3 August 2016
article
in Share . 8 LONDON – “Brexit means Brexit,” Theresa May, the United Kingdom’s new prime minister, insists. It is a simple and powerful slogan that sends an unmistakable message to all who have been hoping for a reevaluation of June’s referendum result. The UK, it seems clear, will be leaving the European Union. But that is where the clarity ends.

The G20 disappoints again, but is that because expectations are too high?

Monday, 25 July 2016
blog
What’s the right way to the G20? There is good reason to set the bar high. The G20 showed us what it is capable of in 2009 and 2010, when the world needed it most. There is a general feeling among those who pay the closest attention to international governance that the G20 has done little to redeem itself since. The world’s most important economies are stuck in a seven-year slump of inaction, according to this view. That makes them part of the problem; if their inaction is not the root cause, then it is at least a byproduct of this era of serial disappointment.

U.K.’s new prime minister must negotiate EU split quickly

Friday, 15 July 2016
article
The UK's economic and political health could suffer greatly if its new relationship with Europe is not determined soon

Are low interest rates doing more harm than good?

Friday, 15 July 2016
article
Chris Sorensen
In the wake of Brexit the world is once again looking to central banks to jump-start the economy with more stimulus. But are low rates doing more harm than good?

What’s the Problem With Protectionism?

Thursday, 14 July 2016
article
One thing is now certain about the upcoming presidential election in the United States: the next president will not be a committed free trader. The presumptive Democratic nominee, Hillary Clinton, is at best a lukewarm supporter of freer trade, and of the Trans-Pacific Partnership in particular. Her Republican counterpart, Donald Trump, is downright hostile to trade deals that would throw open US markets. Breaking with modern Republican tradition, Trump envisages a 35% tariff on imported cars and parts produced by Ford plants in Mexico and a 45% tariff on imports from China.

Canadian soldiers are the new deterrents in the Baltics

Thursday, 14 July 2016
article
Deterrence. It’s the coldest of the Cold War terms and suddenly, like an old piece of meat left in the back of the freezer, it’s been thawed, reheated and put back on the Canadian military menu. At the recent NATO Summit in Warsaw, Canada announced it will lead one of the four new NATO battle groups based in the Baltics and Poland, sending up to 500 soldiers, six CF-18s and a frigate to Latvia. The cost will be about $385 million over three years. Senior government officials repeatedly described the new force as a “deterrent message” to a “new and rising Russia.” It is a serious contribution to a serious threat and has been widely and rightly supported. It puts Canada in the same league as the U.S., the U.K. and Germany in this mission. The problem is, no one appears to know what, exactly, a modern message of deterrence really means.
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