British Chancellor George Osborne said on Sunday that it would be "catastrophic" to reverse his austerity policy,but Adam Posen, a former member of the Bank of England's Monetary Policy Committee, told CNBC that both Osborne's austerity package - and apocalyptic warnings - were self-defeating.
He may well know his stuff when it comes to central banking, but the future Bank of England Governor Mark Carney will have to show a wide breadth of knowledge about British history, culture and customs before he can claim British citizenship.
Even as some housing markets in Europe have cratered, Germany’s housing market has gone from strength to strength, particularly in its cities, as a result of low interest rates and high demand. Though the phenomenon has prompted fears that Germany was heading for a housing bubble, property experts told CNBC that the strongman of Europe was safe, for now.
The euro zone may be in recession but the region’s efforts to repair budgets, cut labor costs and improve competitiveness is signaling a more dynamic future for its economy, according to a report commissioned by a European think tank The Lisbon Council and Germany-based Berenberg Bank.
Debates over nature or nurture and their impact on shaping a person’s life continue to dominate evolutionary theory, but according to one author everyone has the potential to be “great” — without being a natural born genius or having an ivy-league education.