International Selection

The ongoing financial crisis is merely a symptom of the monetary union’s underlying malady: its southern members’ loss of competitiveness. A column by Hans-Werner Sinn.

A slump in economic growth in China is inevitable: The manufacturing industry in the rest of the world can be happy, writes finance professor Michael Pettis.

The transformation of the investment- and export-led growth model toward a more balanced consumer-based and services-led economy is under way. A column by Stephen S. Roach.

The former British Prime Minister, the late Margaret Thatcher, followed a vision of liberalization. This in turn deeply influenced european politics. A column by Harold James.

The «global savings glut» is the cause for ultra-low interest rates, but why there is this glut, how long it will last and if it's good, is being hotly debated. A column by Kenneth Rogoff.

This is the lesson: Yes, banks can be allowed to become insolvent, and yes, creditors may have to suffer. A column by Daniel Gros.

Interest rates are unsustainably low. Once they start to rise, bubbles in the prices of bonds and other securities will burst and the financial markets will suffer. A column by Martin Feldstein.

The decision of the EU summit to tax small deposits in Cyprus was amateurish, LSE economist Paul De Grauwe complains in an interview with FuW. A lot of credibility was destroyed unnecessarily.

Berkeley economist Barry Eichengreen talks in the interview with «Finanz und Wirtschaft» about the consequences of the deposit levy in Cyprus and the need for a banking union in the Euro Zone.

The reforms undertaken in some peripheral countries are much deeper than those undertaken by Germany a decade ago. A column by Daniel Gros.

The Swiss National Bank does a much better job in explaining and executing its exchange rate policy than the new leadership of the Bank of Japan. A column by Barry Eichengreen.

The Federal Reserve may be digging itself into an ever-deeper hole by committing to misguided policies aimed at the wrong problem.A column by Stephen S. Roach.