From the TUC

Peter Bakvis's Articles

High debt ratios don’t cause recessions. The cure might.

20 Feb 2014, by in Economics, International

Last week an IMF working paper* from the Fund’s research department found no evidence to back up the notion of a ‘magical threshold’ in the level of national indebtedness, above which economic growth falls off dramatically. Indeed it looks like the theory may have encouraged politicians to confuse cause and effect with disastrous results. Hopefully this paper is…

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Global institutions lurching towards Sherwood

19 Oct 2012, by in International

Peter Bakvis, who runs the global unions office in Washington DC, was at the annual meetings of the International Financial Institutions (IMF and World Bank) in Tokyo last weekend, and reports here on developments in the global campaign for a Robin Hood Tax. As EU governments (11 so far) commit to introducing a Financial Transactions Tax…

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IMF oversells labour market reform, again

28 Jun 2012, by in Economics

Claiming that large-scale reforms of labour markets and pensions in euro-zone countries will deliver a surge in economic growth, IMF officials have urged that deregulatory reforms “should be implemented without delay”.  When combined with product market reforms, the Fund asserts that labour reforms will boost the zone’s GDP by 4½% over five years. However a…

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