Mexican president under fire
Until recently Mexico’s president, Enrique Peña Nieto, was getting a great press, with the Mexican economy going well and important reforms pushed through, but now he seems to be in serious political trouble. Gideon Rachman is joined by John-Paul Rathbone and Jude Webber to discuss what has gone wrong.
People wait in line at a government employment office in Madrid – Getty
A strong, broadly based economic recovery in the eurozone is nowhere in sight – as will become clear on Friday, when Eurostat, the EU agency, and several national statistical offices publish estimates for gross domestic product growth in the third quarter of this year. Read more
Mark Carney, governor, unveiled the Bank of England’s latest forecasts for the UK economy and gave further guidance on the likely path of interest rates in the months ahead at his quarterly inflation briefing on Wednesday.
By Emily Cadman and John Aglionby
Mark Carney, governor, will unveil the Bank of England’s latest forecasts for the UK economy and give further guidance on the likely path of interest rate rises in London at 1030 GMT on Wednesday. Here are the key things to watch out for: Read more
For the past 15 years, there has been little good to say about Italy’s economic performance, and even less about the quality of Italian political life.
Yet one Italian institution emerges with its reputation unscathed – and even strengthened – from this long spell of incompetence, corruption and decline.
I am speaking of the presidency. Carlo Azeglio Ciampi, who served as head of state from 1999-2006, and Giorgio Napolitano, his successor and the current president, have exemplified everything that is dignified, decent and honourable about their country. Their behaviour in office has put the squabbling and self-serving political classes to shame – and it has preserved respect for Italy among its allies and partners abroad. Read more
By Gideon Rachman
This weekend America announced that it was sending more troops to Iraq, Russia allegedly sent more troops into Ukraine and President Barack Obama set off for Beijing.
The central bankers, past and present, who met in Paris on Friday have collectively pumped tens of trillions of dollars into financial markets and are widely applauded for staving off a global financial meltdown.
But the crowd of star monetary policy makers at the Banque de France’s conference were clearly peeved that since 2008 they have, in their own words, become the only game in town.
Over the past two week, the Bank of Japan upped its bond purchases to a staggering 15 per cent of gross domestic product a year and the European Central Bank signalled a €1tn balance sheet expansion. Yet the policy makers who helped pass those measures, which included governor Haruhiko Kuroda and members of the ECB’s governing council, played down the impact these waves of cheap cash will have on the economy. Read more
By Victor Mallet
Narendra Modi, Indian prime minister, has relaunched his country’s controversial claims to some of the world’s greatest scientific achievements with his suggestion that ancient India was adept at genetics and plastic surgery, including the grafting of the elephant’s head onto the god Ganesh.
His remarks – ironically made at the opening of a high-tech hospital in Mumbai – have revived a political debate about the growing influence of the right-wing Rashtriya Swayamsevak Sangh (the Organisation of National Volunteers) over the governing Hindu nationalist Bharatiya Janata party.
Hindu fundamentalists are delighted by Mr Modi’s words, left-wingers are appalled or mocking and many foreigners are simply bemused that India’s real cultural, scientific and medical achievements are being overshadowed by simplistic references to the mythological past. Read more