The risk of Populism in the US and Europe
Christine Lagarde of the IMF has expressed concern about the current trend of populism favoring international trade restrictions. Many commentators have cited Donald Trump and Theresa May’s plans for...
View ArticleThe End of Globalization
The surprising election of Donald Trump marks the end of the process of globalization that has dominated economies and societies in the last thirty years. There will be no turning back to the relations...
View ArticleItaly ‘s Winter
International observers are struggling to understand what is happening in Italy. The FT’s Wolfgang Munchau argued on December 11th that before long Italy would have a government favouring an exit from...
View ArticlePatience in the year of Trump
Investors would do well to consider the Trump presidency and its recent executive orders dispassionately. The Romans considered patience a virtue of the strong, the Greeks an active state of the being,...
View ArticleScepticism in a growing Europe
The European Central Bank (ECB) is estimating that economic expansion in Europe is strengthening, helped by higher domestic demand. Inflation has turned positive in all countries, underpinned by rising...
View ArticleEurope at 60
On April 18, 1951 in Europe the first institution was born, the European Coal and Steel Community (ECSC). France, Belgium, Netherlands, Italy, Luxembourg and Germany pooled their production and...
View ArticleEurope and Nationalism
In January 1995, François Mitterrand gave his last speech as President of France, speaking of Europe and nationalism at the EU Parliament in Strasbourg. Those were dramatic days: a fratricidal war was...
View ArticleBrexit one year on
On Friday, June 24, 2016, the surprising result of the Brexit referendum was announced. The British electorate had been called by Prime Minister David Cameron to decide whether to stay or leave the...
View ArticleEuro against Dollar
Year to date the US dollar has declined about 10% against the euro. The descent of the dollar has accelerated in recent weeks. At the moment the exchange rate is around $ 1.17. Observers are...
View ArticleFalse tranquility of the market
The volatility of the US stock market as expressed by the Vix index, published since 1990, is at its historical low. These days it stands at around 10; its apex of 45 was reached during the 2008...
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