It is not the best of times. I’m not sure what the problem is over there, but it seems to be affecting everyone. Angela Merkel is angry, your own prime minister looks a little bewildered and the people of Greece, you, are hurting most of all. As far as I can tell your banks let […]
eurozone crisis
Posted inGeneral
The African Renaissance for Dummies
I’m probably going to make a fool of myself publishing this column, as it is about the economy, and I know very little about the economy. Until very recently, for instance, I was still under the impression that the Eurozone was a trance state one reaches during deep meditation. Apparently, it’s not that at all, […]
Posted inBusiness, General
Eurozone crisis: Where things stand
On Tuesday, President Jacob Zuma’s office announced that South Africa will contribute $2-billion (R16.3-billion) to an international fund created to bail out Europe’s debt-stricken nations. The government’s pledge is part of a $75-billion commitment from the Brics nations – Brazil, Russia, India, China and South Africa – to help bolster a $456-billion rescue fund administered […]
Posted inBusiness, News/Politics
Macroeconomic convergence within the SADC region
Since its evolution from the Southern Africa Development Co-ordination Conference (SADCC) into the Southern Africa Development Community (SADC), the Southern African regional formation has targeted gradually deepening its integration, starting with the creation of a free trade area in the coming decade. In addition to this free trade area, further goals such as the achievement […]
Posted inBusiness, General
Euro crisis: What are they on about?
Europe’s debt crisis is looming large over the global economy. Reports are everywhere you turn, but they are often confusing. They tend to be heavy with jargon and light on background. The following quote from a story published by Reuters recently is fairly typical. “German debt prices rose and Spanish bond yields briefly jumped on […]
Posted inBusiness, General
The economic week in review: Timeo Danaos
Fear of the Greeks was the dominant economic theme of the week. Greece’s failure to form a new government after inconclusive parliamentary elections last week drove markets broadly lower as concerns mounted that Europe’s debt crisis may soon get a lot worse. Elsewhere, America’s central bank hinted that the world’s largest economy may require further […]
Posted inBusiness, News/Politics
Rebuilding the Eurozone brick by Bric(s)
Europe is in crisis. After a reasonably calm last few months, massaged by a trillion-euro stimulus from the European Central Bank, it seems as if the dark clouds are once again forming over the continent. This comes after the news that Spain’s bond yields have skyrocketed based on concern that the country (which is the […]
Posted inBusiness, General
The economic week in review: Unsettling
The week began with elections in France and Greece that cast fresh doubts on Europe’s ability to contain its ongoing debt and economic crises. The week drew to a close with a slew of disappointing data in China. In between, the United States sent out mixed signals and South Africa reported a rise in unemployment. […]
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As uncertainty deepens, the human condition further worsens
In a compelling poem by the great African intellectual giant Amílcar Cabral, a powerful ‘story’ of Return is told. A relatively young Cabral, in his 20s, published a timeless poem that remains relevant – though written in 1949 – even today. It is worth presenting a couple of verses from it: Old Mama, come and […]
Posted inBusiness
Why can’t we get ourselves out of this sticky mess?
By Roger Diamond The news is oozing with opinions on the Eurozone crisis, debt defaults, bailouts and why eating baklava is about to be banned. Although there is plenty of merit in getting stuck into the details of easing the pain of recession and finding short term solutions to employment, liquidity and keeping the monetary […]