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This is not a dictator making a run for it, but the beginning of a new and unprecedented phase of central bank intervention not just in the money market, but also in the real economy. Due to the pandemic, national…
Read moreI recently posted an unorthodox talk with the chief-economist of the Romanian National Bank, Valentin Lazea, when we agreed that the world’s economic development model was no longer sustainable. As a result, economic theories need to radically change and focus on…
Read moreThis is the question on everybody’s lips with the 2008 financial crisis still lingering in our mind. Not only did the stock market experience a similar dive over the past days but it has actually exceeded the scale of the…
Read moreI am talking this week with Valentin Lazea, chief-economist of the National Bank of Romania whose opinions do not involve the liability of his institution. Together I want to look at how much demographic growth, the obsession of governments, is…
Read moreA deep concern is haunting part of the Western elites vented as well in the main stream media: economic success is no longer within the exclusive remit of liberal societies. China`s spectacular developments in the past decades and its dominant…
Read moreIn a recent report, the Institute of International Finance estimates that global debt has reached a new record high, 253 trillion dollars by the end of September. The analysis considers that this is debt accumulated mainly by governments and non-financial…
Read moreThe recent events in the Middle East that led to an escalation of tensions between the US and Iran had some otherwise respectable analysts jump to rash conclusions about Romania’s possible involvement in the conflict. I am intrigued that these…
Read moreThe dire demographics have us worry about how the world or the country will look like with a more aged population. I believe that this growing concern mostly explains the success of my “Welcome to the land of the elders…
Read moreA good-quality change management requires thorough planning of change, dosage and good communication, assessment of possible sources of resistance and ways to mitigate it and why not, compromise. Excellent ideas may get buried by a massive negative reaction from those…
Read moreThe decision by the rating agency Standard & Poor’s to downgrade Romania’s credit-rating outlook from stable to negative seems to have come as a surprise. I believe that the agency’s explanation was sufficiently clear to exclude any speculations: the large…
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