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Frey, Eric

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5 articles of this author have been cited in the European Press Review so far.

Der Standard - Austria | 26/08/2010

Eurosclerosis hits the US

For the first time in decades, with unemployment at roughly 9.5 percent the US has a higher rate than Germany's 7.5 percent. Only Germany has managed to overcome the problem of Eurosclerosis - stagnating employment despite economic growth - writes the daily Der Standard: "The same fate which Europe has suffered for years is now befalling the US and spoiling US President Barack Obama's otherwise rather passable performance on economic policy. Germany, on the other hand, is now reaping the rewards of Gerhard Schröder's highly controversial Agenda 2010. But there is still need for further action, for example on protection against dismissal. And in France and the states of southern Europe, the high unemployment rates are above all the result of a sclerotic labour market. But now that the high season for the macro-economists has come to an end it's time for the labour economists to show us how to create more jobs despite stagnant growth. And for the first time in decades the US must ponder over how to get its job market moving again."

Der Standard - Austria | 19/08/2010

Facebook photos of detainees have explosive impact

The Israeli ex soldier Eden Abergil posted several photos of herself posing with bound and blindfolded Palestinian detainees on her Facebook page. The scandal this has provoked also has moral dimensions which states must consider, writes the daily Der Standard: "On the one hand it conveys a frightening picture of the mood in the Israeli army and the attitude of many soldiers towards Palestinians. ... The pictures of humiliation which the Abergil case testifies to threaten ... to further poison Israeli-Palestinian relations, even if they show no evidence of violence against the detainees. This is the political equivalent of the party snapshot posted on Facebook which falls into the hands of an employer - but with far worse consequences. States too must be aware of the dangers that quickly-taken photos pose in the era of the mobile phone and Facebook. The debate about how to contain this danger has only just begun."

Der Standard - Austria | 08/06/2010

Austerity time bomb

Germany's budget policy has exacerbated inequality in the Eurozone, writes the daily Der Standard: "The German propensity to hard work and self-deprivation has created the very global imbalances that rocked the international financial system and weakened the European common currency in the first place. Leading economists and Germany's trading partners have been saying this for years, most recently at the G20 planning meeting in South Korea. But the Germans - like the Chinese and Japanese who are also firmly bound up in mercantilist thinking - refuse to listen. Their fear of 'Greek circumstances' has led them to recreate these very circumstances. No one can force them to make an about-turn. Nevertheless the Germans themselves must foot the bill for the crisis, as the value of their financial assets dwindles and they are forced to stand surety for other people's debts."

Der Standard - Austria | 18/08/2009

The core objectives must remain

US President Barack Obama's pragmatism on healthcare should facilitate tactical navigation through the maelstrom of congressional politics, but it could also lead him to cede too much ground, writes the daily Der Standard: "An all-or-nothing strategy of the type demanded by Nobel prize winner Paul Krugman would ... certainly fail. The best chance for public health is a comprehensive, step-by-step process of change that will gradually ease Americans' fears of a greater role being played by the state. But if the first step, taken by a popular president, falls flat, the opportunity could be lost altogether. In the coming week Obama has to make sure that at least his core objectives - health insurance protection for everyone and better cost control - are not negotiated away out of sheer pragmatism."

Der Standard - Austria | 05/05/2008

The negative impact of a strong euro

Canadian economist and Nobel Prize winner Robert Mundell warns in an interview of the consequences of the high euro exchange rate, and calls for a rapid lowering of interest rates: "While the US economy will soon recover from the real estate crisis, Europe's economy may be harmed in the long term by the strong euro. This makes most countries in the Eurozone far less competitive, not only compared with China and India, but also vis-à-vis the USA. ... To stop the euro's rise, the European Central Bank should sink euro interest rates according to the US model. ... A central bank must not suddenly change course, otherwise it loses its credibility."

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