Europe\u2019s Last Best Chance – Michael Boskin – Project Syndicate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Reforming social-welfare benefits is the only permanent solution to Europe\u2019s crisis. One hopes that, with the help of national governments, the European Central Bank, the International Monetary Fund, and the European Financial Stability Facility, the holes in the sovereign-debt-funding dike will be temporarily plugged, and that European banks will be recapitalized. But this will work … <\/p>\n
Continue reading “Europe\u2019s Last Best Chance – Michael Boskin – Project Syndicate”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,34],"tags":[3167,3168,3269,3333,3468],"class_list":["post-2369","post","type-post","status-publish","format-standard","hentry","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-social-security-pensions","tag-social-welfare-benefits","tag-structural-reform","tag-tax-burden","tag-transfer-payments"],"yoast_head":"\nEurope\u2019s Last Best Chance - Michael Boskin - Project Syndicate - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe\u2019s Last Best Chance - Michael Boskin - Project Syndicate - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Reforming social-welfare benefits is the only permanent solution to Europe\u2019s crisis. One hopes that, with the help of national governments, the European Central Bank, the International Monetary Fund, and the European Financial Stability Facility, the holes in the sovereign-debt-funding dike will be temporarily plugged, and that European banks will be recapitalized. 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Above all, it means that expectations are broadly inconsistent with reality, and need to adjust, in some cases downward. But\u2026","rel":"","context":"In "UK & Europe"","block_context":{"text":"UK & Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11263,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/11\/03\/europes-energy-essentials-by-ana-palacio-project-syndicate\/","url_meta":{"origin":2369,"position":1},"title":"Europe\u2019s Energy Essentials by Ana Palacio | Project Syndicate","author":"ColinTwiggs","date":"November 3, 2014","format":false,"excerpt":"Ana Palacio on Europe's energy challenge: Energy\u2019s emergence as a focal point for European leaders makes sense, given that it lies at the confluence of the three existential threats facing the European Union: a revisionist Russia, the declining competitiveness of European businesses, and climate change. ....The most tangible element of\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6111,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/11\/europes-populists-at-the-gate-by-barry-eichengreen-project-syndicate\/","url_meta":{"origin":2369,"position":2},"title":"Europe\u2019s Populists at the Gate by Barry Eichengreen – Project Syndicate","author":"Colin Twiggs","date":"November 11, 2012","format":false,"excerpt":"Barry Eichengreen writes: In focusing on summit declarations and promises of far-reaching reforms of EU institutions, investors are missing the real risk: the collapse of public support for, or at least public acquiescence to, the austerity policies required to work down heavy debt burdens \u2013 and for the governments pursuing\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6325,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/noam-chomsky-europes-policies-make-sense-only-on-one-assumption-that-the-goal-is-to-try-and-undermine-and-unravel-the-welfare-state-europp\/","url_meta":{"origin":2369,"position":3},"title":"Noam Chomsky: \u201cEurope\u2019s policies make sense only on one assumption: that the goal is to try and undermine and unravel the welfare state.\u201d | EUROPP","author":"Colin Twiggs","date":"December 3, 2012","format":false,"excerpt":"Noam Chomsky in an interview with EUROPP editors Stuart A Brown and Chris Gilson: Europe\u2019s policies [austerity during a recession] make sense only on one assumption: that the goal is to try and undermine and unravel the welfare state. And that\u2019s almost been said. Mario Draghi, the President of the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7104,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/21\/alp-has-spread-europes-disease-the-australian\/","url_meta":{"origin":2369,"position":4},"title":"ALP has spread Europe’s disease | The Australian","author":"ColinTwiggs","date":"March 21, 2013","format":false,"excerpt":"Greg Sheridan writes: Europe's present distress is our future. Everyone knows that part of Europe's problem is excessive welfare. As Germany's Chancellor Angela Merkel has remarked, Europe has 7 per cent of the world's population, 25 per cent of global gross domestic product and 50 per cent of the world's\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1662,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/31\/europes-dying-bank-model-gene-frieda-project-syndicate\/","url_meta":{"origin":2369,"position":5},"title":"Europe\u2019s Dying Bank Model – Gene Frieda – Project Syndicate","author":"ColinTwiggs","date":"October 31, 2011","format":false,"excerpt":"In general, the eurozone has outsized banks (assets equivalent to 325% of GDP) that are highly leveraged (the 15 largest banks\u2019 leverage is 28.9 times their equity capital). They are also dependent on large quantities of wholesale debt \u2013 totaling \u20ac4.9 trillion (27% of total eurozone loans), with \u20ac660 billion\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2369"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2369\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}