Germany’s Bundesbank is fighting an increasingly lonely battle on immigration (POLITICO)
By Johanna Treeck, Nette Nöstlinger · Sep 4, 2024 The far right’s landmark victory in a regional German election at the weekend wasn’t just a slap in the face for the federal government in Berlin. It was a severe blow to those trying to stop Germany’s economic decline. Like much of the country’s economic establishment, […]
Draghi report: Brussels should give defense firms carte blanche access to EU funds (POLITICO)
By Antoaneta Roussi, Sep 2, 2024 Defense companies should have no restrictions when it comes to accessing European Union funding and mergers between companies should be permitted regardless of competition concerns, according to a draft chapter the competitiveness report of former European Central Bank chief Mario Draghi seen by POLITICO. Draghi is finalizing his much-anticipated […]
In the Blind Spot (Elite overproduction as a geopolitical risk factor)
SNEAK PEEK — Why the downfall of Bangladesh’s Iron Lady, Sheikh Hasina, offers a cautionary tale for the West’s own DEI debate. — Dario delves into the legitimacy of the counternarratives that claim American meddling may have played a role in her ousting. — Izzy argues that economies that specialise in supplying cheap labour to […]
In the Blind Spot (Two-sided markets in software and hospitality)
SNEAK PEEK — Do waterspouts ever strike twice? A boating incident in Lake Maggiore in 2023 suggests yes. — Izzy argues that the software industry is and always has been plagued by a ‘market for lemons’ problem, and that’s why the business is fundamentally two-sided. — If the bosses of social media platforms are […]
Germany never slept, but it *is* losing (again)
Whenever Izabella is off, Dario takes the chance to effectuate a coup of the Blind Spot newsletter. This week’s Blind Spot newsletter has thus been shunted aside in favour of Dario’s take on economist Noah Smith’s piece: “Europe’s fate is in Germany’s hands now”. Noah Smith’s call to action for Germany to step up, get […]
BoE ramps up preparations for normalizing long-term repos (POLITICO)
By Geoffrey Smith, July 22 The Bank of England is raising the pressure on banks to get ready for the moment when things start to get tough. Banks should ensure that they are ready to borrow at scale through the BoE’s various facilities before its steady withdrawal of excess liquidity starts to create volatility in […]
In the Blind Spot (The productivity paradox lives on)
SNEAK PEEK — Lessons from James Goldsmith on what’s really ailing Western productivity. — Make being a housewife great again — not least because it will help improve corporate productivity, argues Izzy. — Bangladesh is being destabilised by students scrambling over 3,000 precious government jobs. Dario has more. Good morning subscribers! There’s no better […]
Techies, meet J.D. Vance (POLITICO)
By Mallory Culhane, with help from John Hendel, Steven Overly and Brendan Bordelon TECHIES, MEET J.D. VANCE — The official Republican candidate for vice president was elected to the Senate in 2022 with a $10 million infusion from PayPal founder and tech billionaire Peter Thiel. But his relationship with Thiel and the broader tech world […]
In the Blind Spot (The slow shift to technopaternalism)
SNEAK PEEK — What does FCA listing reform have to do with the new era of technopaternalism? — China expert George Magnus shares his thoughts on whether it’s wise to emulate the China model. — Somaliland’s quest for international recognition is compromised by its deteriorating security situation, Dario writes. Greetings subscribers, or should I say […]
In the Blind Spot (‘Securonomics’, and the new UK security state)
SNEAK PEEK — Izzy takes a closer look at new Chancellor Rachel Reeves’ big economic idea of “securonomics” and what it really entails. — The US Supreme Court’s decision to grant immunity to the presidential office puts America’s constitution on course for an Augustus moment. — The prospect of peace talks between Turkey and […]