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Cause and cure of the crisis
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2014
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...
Persistent link: https://www.econbiz.de/10011108214
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High Noon at the EU corral. An economic plan for Europe, September 2011
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
The 2007+ credit crunch and economic crisis put European governments in severe debt, with talk about a Greek partial default. It also put the European banks into a zombie condition, while under Basel III the capital requirement rises from 8% to 10.5% (which requirement does not cover public debt...
Persistent link: https://www.econbiz.de/10009294940
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Money as gold versus money as water
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2013
The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some respects, partly because of the advantages of fiat money. The treaty on the EMU has to be adapted in order not to become dependent upon current ad hoc measures, with the loss of...
Persistent link: https://www.econbiz.de/10011107257
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Conditions for turning the ex ante risk premium into an ex post redemption for EU government debt
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
differences not only because of liquidity but mainly because of the risk of default, as also reflected in credit default swaps … shorter maturities but at higher annual liquidity requirements meet with strong incentives to better manage their economies … credit default risk premium, the liquidity premium and a stigma factor. While much of the debate in the EU seems to be about …
Persistent link: https://www.econbiz.de/10009372590