UK urged by IMF to bring forward high value spending

LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

European leaders hold summit on tax evasion

The heads of state and government of the European Union held a summit Wednesday in an effort to make more progress in fighting tax evasion and tax fraud. EU leaders are targeting tax crimes both within the borders of their countries and in foreign tax havens despite the reluctance of Austria and Luxembourg. The leaders of the EU's 27 member states are expected to give the go ahead to the ...

European Union U-turn over refillable olive oil ban

the European Commission said that restaurants should only be allowed to serve the oil in non-refillable bottles with a proper label. It said this would prevent restaurants from serving low quality oil and improve hygiene. But it also played into the hands of people who complain that the EU is too meddlesome, with Prime Minister David Cameron saying: "This is exactly the sort of area that ...

Rogoff Fixing the eurozone crisis will require massive writedowns of debt

Kenneth Rogoff Kenneth Rogoff, Professor of Economics and Public Policy at Harvard University and recipient of the 2011 Deutsche Bank Prize in Financial Economics, was the chief economist of the International ...

Eurozone crisis time for France to step up | Kenneth Rogoff

eurozone crisis must involve massive write-downs (forgiveness) of peripheral countries' debt. These countries' massive combined bank and government debt - the distinction everywhere in Europe has become blurred - makes rapid sustained growth a dream.This is hardly the first time I have stressed the need for wholesale debt write-downs. Two years ago, in ...