The Economic Times

One European scenario shows Germany dominating Europe, forcing austerity on its southern neighbours as a price for staying in the eurozone. A second scenario suggests a eurozone break-up in protest against humiliating austerity. Greece has just voted for a new […]

The logic of the electoral cycle points unambiguously to a tough budget with stiff taxes, curbs on populist spending, and an emphasis on controlling a runaway fiscal deficit. The next general election is due in May 2014. Hence there will

The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone. But US is struggling with fiscal problems of its own, Japan now has the

The IMF wants to increase its lending capacity by $1 trillion, to rescue distressed countries in the eurozone plus those hit by aftershocks from the eurozone. But US is struggling with fiscal problems of its own, Japan now has the

Most people think of the eurozone crisis as a fiscal crisis. They see the southern European countries collectively called the PIIGS (Portugal, Ireland, Italy, Greece and Spain) with huge debt/GDP ratios or huge fiscal deficits that look unsustainable, and require

Slowing tax revenue and rising government spending on food security and universal health threaten to send the fiscal deficit skyrocketing next year. To check this, many experts want to raid the surpluses of public sector undertakings (PSUs). These surpluses have

Government data is often dismissed as too good to be true. But the October data for industrial production, minus 5.1% overall and minus 6% for manufacturing, is too bad to be true. Either it will be revised upward substantially, or

Government data is often dismissed as too good to be true. But the October data for industrial production, minus 5.1% overall and minus 6% for manufacturing, is too bad to be true. Either it will be revised upward substantially, or

The 27 countries of the EU will hold a summit on December 9 in what has been called the last chance to solve the eurozone financial crisis. However, in politics, \’last chances\’ are rarely final. The eurozone has already gone

Many readers were incredulous at my last column in The Times of India. This said that by 2020, US oil imports would dip and be met entirely from neighbours in the Americas, ending US dependence on the Persian Gulf. This