Congratulations to Philip Lane

Many congratulations to Philip who has been formally appointed as the ECB’s new chief economist. The next few years are likely to be challenging ones for the Eurozone, and so it’s good to see an economist trained on the briny shores of the Atlantic being appointed to the position.

4 replies on “Congratulations to Philip Lane”

Indeed a richly deserved appointment. I gather he was so far ahead of any possible candidates that none deigned to throw a hat in to the ring – nor did any other government deign to advance a candidate.

To say that the next few years will be challenging for the Eurozone is a bit of an understatement. Monetary policy is as near-as-dammit ineffectual and only half-arsed monetary easing and throwing money at not fully restructured commercial banks is providing some semblance of positive activity. The Germans with their debt brake and anally-retentive fixation on the schwarze null are preventing fiscal policy taking up the slack not only on their patch, but among the other boneheads in positions of responsibility in other EZ member state governments. The Trump administration is swelling deficits not by funding infrastructure or investing in human capital, but by proviidng tax cuts for the haves and the have-mores. The advanced economies are outsourcing the fiscal expansion they should be pursuing to China which is struggling to shift from a production/investment driven economy to consumption driven one.

However, a younger generation is rising up which looks like overturning the 1%’s self-serving clap-trap (ably promoted by their armies of hangers-on and special interests) because it’s clearly damaging their interests. It’s taken them along time to rise up.

It’ll be interesting times indeed for Prof. Lane and all those currently execising power and influence.

Congratulations to Philip Lane on his ECB appointment. The euro is an ‘unfinished project’; as an institution the ECB needs reform. Prof. Lane will have his hands full!

@Philip Lane

Congratulations Philip.

Blind Biddy will be in Frankfurt in the near future representing Hibernian Citizenry Inc. to take tea with your good self in the executive suite to discuss cashing in that little letter of comfort on those little prom notes for a mere 30 Billion Euro or so that appears to be somewhat outstanding since that little unilateral intervention by your new employer around a decade or so ago.

In the interim, tear into the new challenge; you are more than capable of doing so.

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