The story teaches us that the rules governing the single European currency are not based on economic considerations ...

Spain was rocked last week by another ethics scandal: the use of black credit cards by the top management of the Spanish bank Caja Madrid-Bankia. (Please note: business ethics is not only about scandals; it also focuses on preserving a solid culture within business organizations and markets in order for them serve the common good.…

A couple of weeks ago the news came out that Kenya has seen its economy grow 25% after statistical revision. Officially, Kenya is now a "middle-income country." A few months ago, a similar type of revision brought Nigeria's economy to the top of African countries in terms of the size of the economy, surpassing South…

The European Central Bank (ECB) plan to lower the official interest rate from 0.15% to 0.05% will not work. What’s the difference between 0.05% and 0.15%? Nothing. There will be no increase in requests or approvals for loans resulting from this 0.1% cut. In July 2012, after lowering the interest rates from 1% to 0.75%, Mario…