It is almost certain that there will be another euro crisis in 2017

It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy. Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest...

Another battle between insiders and outsiders

Today, Italy votes on a referendum that will change the course of not just Italy but the entire EU. While we gripe about water charges, bogged down by our own incompetence, the world around us is changing dramatically. These changes will have enormous ramifications...

Mortgage rule change is a Pyrrhic victory for first-time buyers

Let’s be clear, when housing supply is stuck, any increase to housing demand will produce higher prices. The Central Bank understands this logic and this is why it relaxed deposit rules last week. The deposit rules were relaxed in order for prices to rise, in order to...

The public sector strikes are really about housing

Make no mistake about it: the series of public sector strikes that we have experienced — and are about to see more of — are entirely linked to housing. The fact that middle-ranking public sector workers can’t, or at least don’t feel that they can, afford to live in...