The New Leviathan Blog

The euro caught up with its birth defects Thus, the result of 15 years of an accelerated European process appears as the worst possible combination. Paradoxically, the Maastrichtian project is on the one hand statist and bureaucratic, on the other monetarist and neoliberal. The European Monetary Union (EMU) project, far from being the nice modernization, the shift to the future praised by the power, is essentially a regression to the past. Politically obsolete, it is nothing but the inappropriate projection of the old statist schemes ...Read More >>

The great opportunity of the global economic crisis: getting rid of states Would it not be proof of political maturity to accept that since the establishment of the single currency, the countries concerned have fared worse on all fronts than others: economic growth, unemployment, debt? , purchasing power? Today, 5 European countries are in unprecedented financial turmoil, and these countries belong to the euro zone: Greece of course, but also Portugal, Italy, Spain and Ireland. ...Read More >>

A debt economy Despite timid signs of rebound, the global economy does not seem to be at the end of its troubles and risks being permanently weakened by the surge in unemployment and the uncertain state of health of the banking system, according to several experts. Emboldened by a slew of better-than-expected indicators, the US administration has trumpeted "the beginning of the end of the recession" while China continues to post vigorous growth. Reassured, ...Read More >>

From the real estate crisis to the economic crisis What does the financial crisis teach us? Two things. First of all, we can't have it both ways. For years, shareholders' income has increased more than that of employees. Whether in China, the United States or Europe, the sharing of wealth is not equitable. Companies have been pushed by shareholders to earn more and more, slashing costs, pushing sales, moderating wages. To keep the machine running, we there...Read More >>

The limits of Atlantic capitalism The Community Minister of Training, Marc Tarabella, former employee of CGER and Fortis, estimated that the takeover of CGER by Fortis was accompanied by a change in culture. If the customer's interest was prioritized at the time of the CGER, it was the shareholder's interest that took precedence from the moment Fortis took control, he declared on RTL-TVi on Sunday. . “Before the interest of the client was at the center of concerns. Since there was the private shareholder, t...Read More >>

Bears and bulls: and yet, it turns… At a time when trillions of dollars have evaporated on the stock market, the culprits are being pointed out. Hedge funds, some say. The rating agencies, say the others. But analysts are also in the dock. Revered in the 90s, hated after the bursting of the internet bubble, they are paradoxically returning to the forefront with the current crisis. In recent years, access to information has become more regulated, due to barriers erected ...Read More >>

The subprime turmoil How many simple ideas we hear these days in France about the financial crisis! Newspapers and politicians are outdoing it to denounce “the absence of regulation”, demand “the return of the State” and denounce the harmful role of tax havens. Problem: none of this holds water. Absence of regulation: nay! The financial sector is one of the most regulated in the world. The problem is not the non-existence of regulation, but its quality. Sarbanes-Oxley accounting rules, ...Read More >>