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Human civilization is faced with unprecedented challenges caused by a mixture of economic, demographic and climate-related factors. We would be misguided to imagine that “orthodox” solutions cautiously and slowly applied could actually work. It won`t happen. They will yield no…
Read moreThe globalization of the last decades has undeniably led to less poverty and higher standards of living for a significant number of people in developing countries. It has helped reduce worldwide economic polarization at the expense of increased social polarization…
Read moreThe political trends in Europe are worrying. Rising populist or nationalist parties overshadow the mainstream parties and thus endanger the European construction. As I already explained in a number of posts, in my opinion, the primary cause of the situation…
Read moreThe saga of appointing a European Chief Prosecutor goes on, but the appointment process seems to have hit a wall. Neither the European Parliament, nor the Council of the EU is willing to give up on their candidate. The two…
Read moreThe US Treasury yield curve has inverted as 3-month yield tops the 10-year yield. This is the first time that this has happened since 2007, and the WSJ noted that the move had preceded every recession since 1975. As the…
Read moreAnd that will happen irrespective of the political leanings of the party. This should not take us by surprise. It comes with the procyclical policies which have been the mainstay of Romania`s development over the last decades, a country that…
Read moreRomania has a new target date to join the eurozone:2024. That was an occasion for me to update the graph that tracks the many deadlines to join the eurozone that Romania has had over the years. The arrows start from…
Read moreNo business in the world is possible unless one condition is met: that both clients and shareholders perceive it as being useful to them. Should one of the two partners fail to see the benefit is enough to start questioning…
Read more“Somebody asked me the other day if I saw a threat of a self-induced crisis in Romania despite a stable international environment. A legitimate question because, in my opinion, if the 2008 world crisis hadn`t happened Romania might have been…
Read moreI know that it sounds grand and dramatic. Mainly in Romanian, as in the Anglo-Saxon financial literature the notion of „wealth destruction” does not herald a piece of tabloid news. The concept is as serious as it gets, discussed in…
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