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The European Central Bank’s Losing Game Of Chicken
European Central Bank (ECB) President Mario Draghi is losing a game of chicken with the Euro Area’s distressed peripheral countries. Earlier this month, Draghi announced…
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Europe’s Central Bankers Are Running Out Of Road
Fed Chairman Ben Bernanke said yesterday in his testimony to the House Financial Services Committee that Europe is a long way off from having a…
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Italy Kicks the Can on Labor Reform
Italy continues to put off addressing its most fundamental economic problem: impossibly rigid labor regulation. In this letter to The Wall Street Journal, I explain why…
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Bailouts Won’t Save Europe, Only Reform Will
As European leaders panic over bailouts for Southern Europe, they miss an important reality. Comprehensive structural reform is the only long-term solution for recovery. Perversely, bailouts…
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Central Bankers are Playing a Losing Game
The supposed economic “recovery” is faltering. The sugar high of freshly printed money from the world’s central banks is beginning to wear off. In…
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Super Mario Hasn’t Saved Italy’s Entrepreneurs
Italian Prime Minister Mario Monti is full of optimism these days. He has claimed to achieve “historic” reform in Italy’s labor market and to beat…