The euro’s TARGET2 is revealing what’s really going on inside the euro area

While the European Central Bank (ECB) has backstopped the governments of the weaker euro area economies, and thereby their banks, it hasn’t been able to…

Why the euro is failing without bond markets crashing

The Covid-clouds might now be clearing from the European economic landscape. However, as they dissipate, they reveal just how uncompetitive much of the euro area…

Australia, wages and inflation

There was no doubt about our topic for this Week in Review. While the G7 dithered and dallied, the UK trade deal with Australia was…