Category Archives: Macroeconomic policy

Why Italy’s Crisis Is the Left’s Crisis

Why framing the political struggle in Italy as mainstream versus populist shifts focus away from the most important issue, Eurozone reform, where the battle is mercantilists versus Keynesians.

Richard Murphy: New Funding Structure for the Bank of England Suggests That the Treasury Thinks the Proverbial Is Going To Hit the Fan

The Bank of England is being readied to print, as in deficit spend, in the face of a hard or crash out Brexit.

Don Quijones: How the ECB Helped Spain “Recover” Faster than Italy from the Crisis

How “financial repression,” as in negative real interest rates, whacked Italy and boosted Spain.

Italy Holds A Mirror to a Broken Europe

The election of a right-wing, populist government in Italy exposes the economic and democratic shortcomings of the European project and its nationalist rivals.

The Roots of Argentina’s Surprise Crisis

How reforms by Argentina’s President Macri helped kick off a currency crisis.

Bill Black: Democrats Should Reject Bernanke’s ‘Wily E. Coyote’ Criticism of Trump’s Deficits

Bernanke engages in a new episode of ideologically motivated economic prognostication.

The Italian Mini-BOT Debate

More discussion of how well a proposed Italian parallel currency, the mini-BOT, might work in practice.

Italy Bars Landing of Ship With 629 Migrants as Finance Minister Takes Euro Exit, Parallel Currency Off Table

Why the self-styled reformist government in Italy is already looking like a paper tiger.

The Battle for Money Has Begun

Why the current fights over money, banking, and Modern Monetary Theory look like new ways to achieve bad neoliberal ends.

Worrying About the Deficit Is So 17th Century

Deficit hawks have been wrong for even longer than you thought.

A Hard Look at the Mini-BOT, the Parallel Currency Idea of Italy’s New Ruling Coalition

The mini-BOT has only been sketched out at a high level. How might it work and more important, would it succeed as a parallel currency?

Italy’s New Prime Minister Conte Says Euro Exit Off the Table, But Mr. Market Pouts About Spending Talk

Italy’s new government makes some opening moves.

Richard Murphy: Why the Swiss Referendum Proposal of Giving the Central Bank Complete Credit Control is Dangerous Folly

Correcting some misunderstanding about proposed monetary reforms that are the subject of a referendum this weekend.

NIRP’s Revenge: Italian Bonds Plunge, Worst Day in Decades

Markets wail and gnash their teeth as normalization of Italian yields sets in.