Spanish government playing monopoly with our taxes

Around 15% of towns in the Valencia Region are at risk of bankruptcy under debts of almost €5.4 billion, according to recent Bank of Spain estimates. They have been playing Monopoly with our taxes for years, says Costa Blanca resident Ron Williams. ONE town of 816 residents – Alto Palencia – has...

Will Greece unravel by Christmas?

First in a 2-part series IN China economists are watching the spectacle in Europe, China’s largest export market, with rising dread. Might European deterioration affect Chinese growth?  October and November tend to be very important months for Chinese exports, and so the prospect of a miserable Christmas...

Germany as much to blame as Spain

IN the debate over the root causes of global imbalances, one source of muddled thinking comes from the many moralizers who contrast the hard work and thriftiness of households in high-savings countries with the laziness of households in high-consuming countries. The world cannot possibly rebalance, they...