Poor ECB Policy turned a bank crisis into a Sovereign Debt crisis, 2007-2015 Prosperity Built on Sand Spain in 2007 epitomized successful European integration. Budget surplus of 1.9% of GDP, public debt below 40%, AAA credit rating, 7.95% unemployment—the lowest since 1978—and 3.8% GDP growth painted a picture of economic triumph. Between 1997 and 2007, … Read more
Last week, the EU failed to agree on its 2040 climate target. Again. On paper, it’s about numbers—90% emission cuts, 3% carbon credits, the usual technical negotiations. In reality, it’s about something far more fundamental: Europe’s energy system is deeply fragmented. We call it a “single energy market,” but in practice, we’re running 27 different … Read more
Ever wondered why your electricity bill keeps climbing? The answer might be sitting on your dinner plate. Picture this: millions of Europeans boiling pasta, running dishwashers, and charging EVs at 7 PM sharp. The grid strains. Fossil backup plants fire up. Prices spike. Welcome to peak demand—brought to you by perfectly synchronized dinner routines across … Read more
The Netherlands has invested billions in wind and solar. But without industrial flexible demand, much of this renewable power will be wasted or curtailed. Here’s the uncomfortable truth: Industry is essential to the energy transition. Industry consumes ~40% of Dutch electricity and can shift GW-scale loads in real time—absorbing renewable peaks, stabilizing the grid, and … Read more
Abstract This paper challenges the conventional narrative that government-sponsored enterprises (GSEs) and affordable housing policies caused the 2008 financial crisis. Through detailed analysis of the origination, securitization, and distribution chain, I demonstrate that private-label mortgage-backed securities and the unregulated credit default swap market were the primary drivers of the crisis. The evidence shows that toxic … Read more