Viktor Orbán turns Hungary into a tax haven
The government has announced an economic package to deal with the country’s acutely low wages or, more likely, to profit multinationals and keep Orbán in power.
Economy
Portugal endures budget talks, credit evaluation and Schäuble
After the back and forth with Brussels, a positive credit rating helped Portugal overcome its state of budgetary limbo, yet Lisbon was “verbally downgraded” by German Finance Minister Wolfgang Schäuble.
Deutsche: Big bank’s troubles
Germany’s biggest bank hits the headlines after being asked to pay a €14 billion fine to the US Department of Justice. The markets are said to be nervous.
A Case Against Capitalist Variety
Life with a lot of variety has a rotten core. Wanting everything is losing sight of what really matters while feeding a machine.
Protests Continue Over France’s Third-Way Policies
One week after French oil workers went on strike which has paralysed 6 of France’s 8 refineries, half of all rail transportation in France has come to a screeching halt due to a transportation strike. But French oil workers and transport activists are protesting different issues.
Deaton wins Nobel Prize in Economics
Angus Deaton, on 12 October 2015, received the so-called Nobel Prize in Economic Sciences, which is in reality the Sveriges Riksbank (Bank of Sweden) Prize for his work on consumption. He is an economist from Edinburgh and professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs and the Economics Department at Princeton University. He will be 70 years old next week. Deaton’s main research focuses on the determinants of health in rich and poor countries as well as the measurement of poverty.
VWgate: CEO Winterkorn resigns
German car manufacturer Volkswagen cheated on diesel engines to meet environmental standards…
Greece reaches new bailout deal
Tuesday morning, 12 August, marked a respite in an overly protracted Greek crisis. The Greek government and its creditors…
The challenges of adequate minimum income in Europe
Minimum Income Schemes (MIS) are defined as “income support schemes which provide a safety net for those who cannot work or access a decent job and are not eligible for social insurance payments or those whose entitlements to these have expired”. They should therefore not be confused with the concept of minimum wage.
Greek banks reopen for the first time in three weeks
In a bid to boost morale and ease the financial squeeze on Greek citizens, banks reopened on Monday, 20 July, after being closed for 3 weeks. Though banks are fully operational, withdrawals will still be capped at €60 per day, but now with the possibility to withdraw a whole week’s worth in one go. Restrictions on overseas payments remain in place. Also, trading on the Athens Stock Exchange is still frozen, along with clearing services and cash settlements for Greek securities.
