Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
PARIS — On Monday, the Western world may well wake up to the news that, for the first time since the defeat of Nazism, a European country has democratically elected a far-right head of state. Norbert Hofer, of the Austrian Freedom Party, claimed 35 percent of the vote in the first round of the presidential…
BRUSSELS—A confidential document debated by eurozone finance ministers detailed for the first time what Greece’s creditors could do to ease the country’s debt load and how that burden would develop over the coming decades without new relief measures. The document, which was reviewed by The Wall Street Journal, served as the basis of Monday’s emergency…
Germany eased its objections to debt relief talks for Greece on Monday as eurozone finance ministers sought to narrow their significant differences with the International Monetary Fund over Athens’ €86bn bailout. With Greece facing €3.5bn in debt payments in July that it will be unable to meet without support, eurozone ministers said they were ready for…
France has said goodbye to its infamous 75% income tax on individuals earning more than 1 million euros this past weekend, returning to a top marginal income tax rate of 45%. The change, effective February 1, is a blow to the French Socialist party’s signature redistribution measure, the same remedy supported by popular French economist Thomas Piketty…
Markets are in turmoil. Here’s what people are talking about today. Chinese stocks close just 29 minutes after open China’s stock exchanges closed for the day at 9:59 a.m. local time after the CSI 300 Index fell more than 7 percent. The selloff was sparked after the central bank cuts its yuan reference rate by…
NEW YORK – The roughly 750,000 people who have arrived in Europe by sea in 2015 make up just a small part of the 60 million people displaced by war or persecution – the largest number in recorded history. Europe has experienced a mass influx of migrants before; some 700,000 refugees entered the European Union…
When earlier today we read a report in the Greek Enikonomia, according to which Greek taxpayers would be forced to declare all cash “under the mattress” (including inside) or boxes that contain more than 15,000 euros as well as jewelry and precious stones (including gold) worth over 30,000 euros, starting in 2016, we assumed this…
To many, Finland is a member of the euro zone’s fiscally conservative core, alongside Germany. But in the words of its own finance minister, “basically, we are the sick man of Europe.” Indeed, new statistics show just how lousy Finland is performing financially. The Finnish economy is 11% smaller than its 2008 peak, making it…
Europe’s central bankers used to dismiss core inflation, a measure of price gains that excludes food and energy, as a fixation of economists who don’t eat or drive. But less so now. European Central Bank President Mario Draghi singled it out on Thursday, saying it’s “somewhat weakened.” Mark Carney last week said the gauge is important to watch…
On a visit to Greece, we talk to a guy who found an ingenious place to hoard his cash, a government-protected milk peddler, and a would-be olive oil tycoon. Music: Jahzzar’s “Fireworks” and Bad Bad Hat’s “Fight Song.” Find us:Twitter/ Facebook/ Spotify/ Tumblr. Episode 639: Where To Hide €50,000, And Other Stories From Greece :…