Yes, because of the Biden policy and it was good.

Yeah, because you didn't present an alternative plan to raise the labor share of income/reduce unemployment.

In aggregate USD assets > USD liabilities of Euro banks but is that enough to get there?

Isn't that only a solution for the asset side and not for the funding in dollar problem?

How do you fix the dollar part? The pan-European part is theoretically (though not practically) solvable.

Steinbach is still around.

My impression when talking with people from CEE is always that the socialist period "froze" a lot of these conflicts. Only so that they could be started again after the fall of communism, right where they had been left.

The fear is obviously more of the nature that your access to the international banking system is revoked if you are a European regulator and enforce laws against Musk.

It is not fear of domestic backlash.

Will Spain have the guts do so? Is it able to do so? Germany certainly won't and probably can't.

It is irrelevant for the political and real world macroeconomic discussion. There the measured numbers count. Purely theory driven models are completely useless. Even most CBs are highly cautios when using productivity numbers.

What productivity is in economic theory is completely irrelevant. What we pretend to "measure" by indicators called productivity matters. At that is highly questionable.

No risk of (more) social democracy.

Completely pointless, given that the most dangerous coercive powers today are private billionaires.

They can probably find a transaction which was paid for in USD somewhere along the chain for most crimes, so US law applies.

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Welcome to 2026!

Erst kommt Kuba.