EA April 2016

A Defense of Mario Draghi’s ECB

alexanderpriviteraA visibly irritated Mario Draghi has politely, but resolutely rebuffed German critics of the European Central Bank’s ultra-loose monetary policies. The president of the ECB used the press conference following this month’s meeting of the central bank’s governing council to launch a broad defense of the central bank’s independence and the appropriateness of its policies. Among other things Draghi said that he doesn’t take orders from politicians but is only bound by the law and the ECB’s mandate of achieving and maintaining price stability, defined as a rate of inflation below but close to two percent.


Public Disclosure Regime Latest EU Effort to Crackdown on Corporate Tax Avoidance

Transparency proposal would shame tax-dodging multinationals

spellmanRigorous disclosure requirements are the latest in the European Union’s accelerating efforts to tax revenue that may be escaping levies through multinationals’ maneuvers, which range from offshore vehicles to company-specific deals with host countries in Europe and elsewhere. EU officials announced the effort (April 12) against a backdrop of outrage worldwide after a Panamanian firm’s 11.5-million papers were leaked, revealing how lawyers helped heads of state and wealthy individuals escape tax liabilities.


Letter from London: Battle of “Brexit” Heats Up--An Insider View on the June 23 Referendum on EU Membership

MichaelWhite2016Champions of American exceptionalism, those who still believe their country’s historic circumstances are unique, face another disappointment in the summer ahead. The 2016 fight for the White House is not the only important battle for votes which has sunk to demeaning levels of superficiality and abuse. Britain’s June 23 referendum debate over its 43-year membership of the European Union (EU) is not doing well either.