It is 50-years this week that six countries, France, West Germany, Italy, Netherlands, Belgium and Luxembourg signed the Treaty of Rome and founded the European Economic Community. And so began in earnest the process that has culminated in the creation of the European Union and a shared currency for 15 of the members. Just because it is 50, though doesn’t make it middle aged, which would imply some termination point.
Friday, March 23, 2007
Tuesday, March 20, 2007
As the first quarter wound down, one of the key features for policy makers and investors has been an increase in uncertainty. Much of the uncertainty may be resolved in the period ahead. In many ways, what happens in the second quarter may very well set the tone for the remainder of the year.
Friday, March 16, 2007
There have been numerous Cassandra-like calls warning that global imbalances pose the largest risk to the world economy. Some observers will even place these imbalances at the heart of their explanation for the spasms in the market. There are only two problems with this view: the theory and the facts.
Friday, March 2, 2007