The euro reached its lowest level against the dollar in seven months last week dropping from a valueof $1.311 a month ago to $1.255 on Friday. This was the lowest level since last October. Undoubtedly there are a confluence of factors at work here: yesterday’s French growth numbers, longer term stagnant growth [...]

Following-up on my extensive post last week, some more evidence of the ongoing ‘reappraisal’ of the positive growth consequences of immigration that is taking place among economists: Immigration, Jobs and Wages Theory, Evidence and Opinion by Christian Dustmann and Albrecht Glitz.

Read more… or [...]

The ECB met earlier today to conduct the monthly review of interest rate policy. It came as a surprise to noone that the outcome was to leave everything just as it is. Surprisingly though the decision this month is surrounded by a little more controversy than has been the case of late since Italy’s Berlusconi [...]

Ok, I’m feeling in a wicked mood today, so how about something really controversial (just for a change). It’s now as near to official as we’re going to get it that Sadam Hussein wasn’t making any serious advance towards the development of WMDs.
So, this being the case, what exactly is going on in Iraq?

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Colin Powell has been making the headlines over the weekend for his seemingly more realistic appraisal of the difficulties facing current US policy in Iraq when compared to the view emmanating from other members of the Bush administration. Again Juan Cole has been offering some informed comment on the topic here.
All of which makes [...]

There’s a fair amount of talk again this week about the various government deficits and what to do with them. Earlier in the week the FT had a piece about the current state of play with the US deficit whilst the Economist is busy musing one more time over the ongoing saga of the [...]

Readers of my previous comment on Tariq Ramadan will no doubt have come away with the impression that I don’t much like Daniel Pipes. This is not an entirely accurate assessment of my opinon of him. I think Pipes is an unreconstructed bigot and xenophobic fanatic whose academic work fails to meet even [...]

William Pfaff, a writer who wrote about European-American relations and the challenges of perceived unchallenged US global leadership well before the Iraq induced and war-blogged “transatlantic rift”, may have indeed listened to Carly Simon when he wrote his not too favorable review of Zbigniew Brzezinski’s election year foreign policy summary “The Choice: Global Domination or [...]

Trying to get away from the emotionally traumatising, this article caught my eye. Clearly it relates to my earlier post, and does have a Spanish connection, if only a rather tangential one.
I thoroughly endorse what the Financial Times has to say. We need multilateralism now more than ever. We should not simply think ‘Europe First’, [...]

By now virtually everyone must know the results of the Spanish elections. I suppose the real questions people are asking involve how to interpret them. I would advise against jumping to hasty conclusions here. I picked up one comment on Crooked Timber to the effect that:

“anybody who decided to vote Socialist after the bombings [...]