Ghana’s economy is one of the fastest growing in Africa, and its recently established oil and gas industry has made it a gateway for foreign investment (as stated by the International Monetary Fund and The World Bank in 2019). However, while prospects for a continued expansion are good, the state faces a stubborn fiscal deficit and the longer-term challenge of reducing the nation’s reliance on a small number of exports due to the COVID-19 pandemic. Fiscal and economic reforms, therefore, remain top of the agenda in the election year of 2020.
In Latin America, where economic problems tend to be more destructive than elsewhere of the Western world, the future economic, political and social stability will be highly dependent on governments’ responses to the coronavirus pandemic. As foreign capital and investments diminish and a global recession is looming, Latin American countries are facing a distressing outlook, which will inevitably lead to a major societal restructuring.
È ormai ampiamente riconosciuto, anche in ambienti mainstream, che le istituzioni di deposito (le banche) non “prestano” le riserve (base money) che la banca centrale fornisce loro, accrescendo la quantità di moneta privata (broad money) in circolazione attraverso il cosiddetto “moltiplicatore monetario”, ma molto più semplicemente creano depositi, e quindi moneta, nel momento in cui concedono un prestito, attraverso un semplice allargamento del loro stato patrimoniale: cresce l’attivo, e cresce il passivo in egual misura. Solo in un secondo momento esse si preoccupano di ottenere dalla banca centrale le riserve necessarie per coprire i requisiti minimi imposti dal regolatore o i requisiti prudenziali che si autoimpongono a seconda della loro propensione al rischio.
“La crisi innescata dal Covid-19 mette in pieno risalto alcune debolezze strutturali della costruzione del progetto europeo. Per questo motivo, le proposte che avanziamo intendono far fronte alle incoerenze e manchevolezze del sistema economico-istituzionale europeo sia in ottica emergenziale sia di medio-lungo periodo.”
In this series of articles, we will explain what Eurobonds are, why there are so many concerns around them and if they could be developed someday soon. In particular, we will go through European peculiarities and we will analyse all viable options to face extreme conditions as it is for COVID-19.
Someone tried to bribe Germany
Social networks are an incredible source of information and they connect the world in a click. But they can also be a means to spread hate, fake news and terrorist propaganda.
On March 15th, 2019, In Christchurch, third largest city of New Zealand, a white-supremacist killed 51 people and injured 49 in two mosques, and the shooting was live-streamed on Facebook.
In early 2018, a whistle-blower revealed to The Guardian and to The New York Times that Facebook allowed Cambridge Analytica, a political consulting firm, to obtain data of as much of 50 million users for electoral purposes. The ads for billions of Americans were pivoted towards the candidate they might like the most based on their personal habits and information.
These are just two examples that show how social networks have failed, at least partially, to self-regulate themselves.
The Covid-19 crisis highlights the unescapable weaknesses of the grounds of the European project. History is calling us, asking for inevitable changes for a better future, leaving behind what has already been proved not to work.
For this reason, we propose some measures which face the inconsistencies of the institutional and economic system of the European Union, both for the most effective response to the emergency and for a medium-long run horizon.