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Dowding, han som vann Battle of Britain, hade det värre än jag.

Alla kan vi väl då och då tycka att vi inte fått den erkänsla som vi själva tycker vi vore värdiga.

Men Dowding har nog ett oslagbart rekord härvidlag.

- AIR CHIEF MARSHAL HUGH DOWDING. Commander in Chief RAF Fighter Command. 

Dowding continued to have constant brushes with the political heavies, he had done his job, he had succeeded in winning the Battle of Britain.

But he was forced to relinquish his position as C-in C in November 1940 and resigned from the RAF in 1942. 

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Münchau: A failure to tell the truth imperils Greece and Europe

If the IMF pulls out, Europe will be free to mismanage the crisis on its own

Greek debt sustainability was premised on an obviously unfulfillable assumption.

Another untold truth is that Germany will never forgive Greek debt. This is because the German parliament will not accept it

Italy’s membership of a monetary union with Germany is also transparently unsustainable.
Yet no Italian prime minister has ever mounted a credible challenge to the way the system is governed.


FT Editorial Greece IMF. Eurozone governments deserve to be defeated.


European nations are over-represented on the board relative to their size in the global economy. 

Wielding that power to dissuade the fund from demanding debt relief from eurozone governments is a clear conflict of interest and poses a threat to the fund’s credibility and independence.

Eurozone governments have behaved poorly on this issue. They deserve to be defeated.

FT Editorial 9 February 2017


IMF board split over bailout terms for Greece

After a meeting to discuss it on Monday the IMF issued an unusual statement conceding that its board was split over its findings.

“Most” of the 24 board members “agreed with the thrust of the staff appraisal” contained in its regular “Article 4” review of the Greek economy, the IMF said.

But “some" had different views on the fiscal path and debt sustainability”.

FT 7 February 2017


Germany trade surplus of nearly $300bn outpacing China by more than $50bn

Schäuble blames ECB for euro that is ‘too low’ for Germany

According to the Ifo Institute, Germany recorded a trade surplus of nearly $300bn last year, outpacing China by more than $50bn to hold the world’s largest trade surplus.

FT 5 February 2017

Trump’s election has almost certainly ended the 35-year trend of disinflation and declining rates

But investors and policymakers don’t believe it yet.

Anatole Kaletsky, Project Syndicate 30 January 2017


Currency Manipulator? Will the administration call for Germany’s exit from the euro?

Jeromin Zettelmeyer, senior fellow at PIIE, is a former director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy.

The United States has complained about the German current account surplus for years, and so has the European Commission.

The result of these complaints has been a set of policy recommendations directed at Germany

Yet, the German government has refused to implement them, 

partly because of the Ministry of Finance’s obsession with balanced budgets, 

and partly because these reforms are politically difficult

If the Trump administration were to throw its political and economic weight behind these reforms, it would be good for Germany, Europe, and the United States.

Jeromin Zettelmeyer (PIIE)February 1, 2017