A new ECB working paper examines the nature of credit-less recoveries in the wake of banking crises: you can download it here.
My invitation to the above event at the week-end being unaccountably delayed, it’s interesting to see the Irish Times relaying the views of colleague Professor Terrence McDonough (IT do note correct spelling please.) here.
In summary:
“He said the country should default on its debt, leave the euro, build a single public bank, provide a jobs guarantee for all workers and nationalise the Corrib gas field.”
On Wednesday (June 29th) the Commission is scheduled to reveal its proposals for the next Multi-annual Financial Framework (MFF) which will set out the scale and composition as well as the proposed financing of the EU budget over the period to 2020. However, some reports suggest that Commission President Barroso is putting aside two days for the Commission College to agree the proposal so it may be later in the week before it sees the light of day. This is an important issue for Ireland, and this post discusses the issues to watch for in the Commission’s proposal.
For the latest update on the government’s position on Anglo debt, I recommend this post from NAMA Wine Lake.