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What the Fed Could Learn from Europe’s Central Bank

Spiegel - Never before have the central banks of the United States and Europe pursued such divergent strategies when it comes to dealing with a financial crisis. The increased value of the euro against the dollar reveals which strategy is working.

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Taxpayer now owns nearly 60% of Royal Bank of Scotland

Guardian - Royal Bank of Scotland, Britain’s second biggest bank until the credit crunch struck last year, confirmed today that is now majority-owned by the taxpayer after a £20bn bail-out by the government. The Edinburgh-based bank announced this morning that its existing investors had shunned its £15bn cash call, leaving almost all the [...]

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Where’s Europe’s Obama?

Spiegel - Europe’s euphoria at Barack Obama’s election has given way to a worm of self-doubt. America may now have its first-ever black president, but which European nation could elect a leader from one of its own ethnic minorities?

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Europe’s surprising labour flexibility

Economist - Since then foreigners have come to make up 15% of Ireland’s population. The influx has helped to restrain wages even as unemployment sank to historic lows of under 4%. The new arrivals have also provided a big boost to domestic demand, as they shopped, ate and rented homes (thereby, less happily, [...]

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