Economics
We must challenge Austerity and the Deficit Lies
By Professor Mary Mellor The Labour U-turn to vote against Osborne’s fiscal charter ‘trap’ is welcome, but it cannot stop there – Labour needs to open up a real debate about public access to money in a modern economy. Osborne’s aim to enshrine in law that States must not run deficits is profoundly undemocratic. It reflects the demand of neoliberal ‘handbag economics’ that the public sector cannot and should not ‘create money’ by running a deficit. This denial of the right...
A once ignored solution to the age old quandary of monetary union
By James Clark The culmination of the much fabled Bretton Woods Conference of 1944 resulted in the brave claim that a system of monetary union, positioned unshakeably upon the benevolent foundation of US hegemony, had established the conditions for everlasting economic stability. What the Conference had however failed to adopt was one of none other than John Maynard Keynes' seemingly more abstract suggestions. Keynes had spotted and presented both weakness and solution within and as part of the proposed Monetary...
London SMEs to Eclipse Rest of Country in Next 10 Years
By Nathan Lee, TLE Correspondent Small and medium-sized enterprises in London are set to eclipse the rest of the country with revenues forecasted to increase by over £160,000 by 2025 compared to the £82,000 increase expected around the country as a whole. Despite the government’s Summer Budget pledge to put the power into the Northern Powerhouse, the gap between London’s small businesses and those in the North looks set to more than double in the next ten years according to new...
How to End this Greek Tragedy
By Ben Ramanauskas Greece has found itself in a modern day tragedy of Homeric proportions. However, this is a tragedy which is both very real and which has no heroes. There is no Achilles or Odysseus ready to save the day, only villains and victims. Whether it's previous Greek Governments who borrowed and spent far too recklessly, or the cunning investment bankers who helped them to hide their debt, or the European Central Bank, the International Monetary Fund and the German...
The Greek Bailout Fund
By Nathan Lee, TLE Correspondent Amidst the financial blackmail orchestrated by the European Union, the Central Bank and the IMF (i.e, the German government), there is a new people-led movement under way with a remit of saving the country without bankrupting it at the same time. Greece needs a €1.6 billion bailout, without which the government will default on its debts, a Grexit will be on the cards and all havoc will ensue. As things stand its only option is to turn...
Deflation: What it means for you.
By Melanie Powell, Senior Lecturer Economics University of Derby, Derby Business School Deflation is the latest worry. Japan has it, Europe has it, but do we? No. Not yet. But we are on the brink with the announcement that the UK inflation rate is zero. Will we catch it? Should we be worried? Surely inflation was the problem and so deflation must be good? It all depends. Most of us have got our heads round inflation – rising prices, and...
Ashford: The International Town
By Nathan Lee, TLE Correspondent Last week news filtered through that Handelsbanken, the Swedish-owned bank, had decided to open an office in the small town of Ashford in Kent. Eschewing the capital, the bank is one of many firms looking to secure international footing in the Garden of England. Perched on the banks of River Great Stour at the edge of North Downs, Ashford is a prodigy of international economic growth. Directly connected to London, Brussels and now the three largest...
Eurozone: Springing into recovery
By Nathan Lee, TLE Correspondent Europe is getting back on track, according to Schroders' Senior European Economist Azad Zangana, who believes the unclogging of the banking sector along with falling oil prices and quantitative easing is prompting better-than-expected results. Despite Greece being nowhere nearer to agreeing the terms of its next bailout, raising the likelihood of a forced exit from the eurozone, peripheral markets have seen little contagion and there is even room for optimism in Europe. Firstly, Zangana argues, the weaker euro...
Will Google kill TTIP (and does it even matter)?
By Alan Owens, Partner and Head of Technology at law firm DWF The current Transatlantic Trade and Investment Partnership (TTIP) negotiations explicitly fail to address the big issues facing the global tech industry – data and US dominance. These issues have come right to the fore following the recent EU action against internet giant Google. Google has been in the crosshairs of the EU for some time, replacing Microsoft as its US tech target of choice. On 27 November last...