Articles by Desmond Lachman
Do We Really Need a Larger IMF?
Sunday, March 9, 2014
- Several developments should cause the U.S. Treasury to reverse itself in favor of a smaller International Monetary Fund.
Yellen’s Wishful Thinking
Tuesday, February 18, 2014
- The new head of the Federal Reserve is imprudently dismissive of concerns about recent international economic developments.
Europe’s Outlook in 2014
Sunday, January 12, 2014
- With European policymakers complacent, it is unlikely that progress will be made this year in reducing Europe’s record unemployment rate or in preventing a ...
Why Greece Will Leave the Euro
Friday, December 6, 2013
- As Greece's political and economic conditions worsen, the conventional wisdom about Greece never abandoning the euro will be sorely tested.
Europe’s Deflation Challenge
Tuesday, October 29, 2013
- Easy global liquidity from quantitative easing in the United States has masked deflation and public debt vulnerability in the European periphery, and the ...
Europe the Morning After the German Elections
Thursday, October 3, 2013
- Angela Merkel’s impressive reelection win indicates little will change in Germany’s Europe policy.
The European Central Bank’s Clay Feet
Tuesday, July 23, 2013
- The president of the ECB should not believe his own hype: Europe’s economic crisis is far from over.
The ECB Delays at Europe’s Peril
Thursday, June 13, 2013
- Without bold action from the European Central Bank, it is difficult to see how the European periphery can avoid sinking ever deeper into economic recession in ...
10 Lessons from Cyprus
Thursday, April 25, 2013
- Here are the likely lessons future historians will draw from Cyprus’s sorry experience in the euro.
Cyprus’s Imminent Collapse
Wednesday, March 27, 2013
- Any calm bought by the IMF-EU bailout package for Cyprus will be short-lived. Cyprus is all but certain to experience an economic collapse over the next two ...
The Biggest Loser: Europe and the Global Currency War
Monday, February 11, 2013
- One can only hope global policymakers wake up to the risks of a strengthening euro before it is too late.
Angela Merkel’s Cypriot Headache
Wednesday, January 16, 2013
- German Chancellor Merkel will want a quick resolution of the Cypriot economic and financial crisis so that a bailout does not become a domestic political issue ...
No Easing in the European Crisis
Wednesday, January 2, 2013
- Far from fading, it is all too probable that the European crisis will intensify over the course of the coming year.
Gushing about America’s Energy Future
Monday, December 3, 2012
- A triumph of market forces rather than government planning.
Don Quixote Is Alive and Well and Living in Spain
Wednesday, October 17, 2012
- Spain is the euro area’s fourth-largest economy. Bad government policy threatens the whole euro project and the global economy.
An Own Goal in Portugal
Saturday, September 22, 2012
- The Portuguese economy will be in for the roughest of rides in 2013 if the government goes forward with a proposal to change corporate social security ...
President Obama’s Ticking Greek Time Bomb
Wednesday, August 15, 2012
- Developments in Athens suggest matters are spiraling out of control.
Groundhog Day in Europe
Friday, July 6, 2012
- European policymakers have to be concerned that the half-life of their band-aids is getting shorter and shorter while resistance to these measures gets ...
The Predictable European Summit Ritual
Wednesday, June 27, 2012
- At the upcoming summit, Europe’s northern countries will again reject southern countries’ proposed solutions to the European debt crisis, and the euro crisis ...
Does Greece’s Election Really Matter?
Friday, June 15, 2012
- The election will just postpone Greece’s inevitable default on its official debt and its unavoidable euro exit by a month or two.
Who Lost Greece?
Wednesday, June 6, 2012
- A relatively insignificant southern European country threatens the very survival of the euro in its present form. How did we get here, and what lessons does ...
Europe’s Future on the Ballot
Tuesday, May 1, 2012
- Depending on what happens this weekend, Europe should start bracing itself for a renewed intensification of its sovereign debt crisis.
The Next and More Serious Phase of the European Crisis
Monday, April 23, 2012
- Two upcoming political events could usher in a new, worse phase of the European debt crisis.
Europe’s Financial Maginot Line
Tuesday, April 3, 2012
- Europe’s proposed financial firewall around Spain and Italy will likely prove as effective in protecting those countries from another market onslaught as was ...
Time for Greece to Leave the Euro
Tuesday, March 20, 2012
- It is difficult to overstate how badly the Greeks were misled by the IMF and EU. Greece’s only path forward is to reintroduce its own currency.
Binds and Bonds: Why the EU Should Break Up
Friday, February 10, 2012
- Europe’s core countries should take preemptive action to form a smaller and more enduring currency union.
Wednesday, November 23, 2011
- If past is prologue to the future, there is little reason to believe that Merkel will allow the ECB to provide unlimited support to the periphery.
It’s Europe’s Economic Growth, Stupid
Thursday, November 17, 2011
- European policymakers are clinging to the forlorn hope that the eurozone crisis can readily be defused by putting in place national unity governments in Greece ...
No Lehman on the Aegean
Thursday, October 20, 2011
- Can we be spared a Lehman-style crisis when Greece’s hard default occurs?
Obama’s European Economic Time Bomb
Monday, August 8, 2011
- A wave of defaults is coming. This will badly damage Obama’s reelection chances.