Pakistan’s economy – I
Alongsides is the first part of a three-part series by an economist who has reflected on his more than half a century involvement with the country's economy. Pakistan has had…
Portugal seeks leniency from creditors as pressure grows
Pressure is mounting on the Portuguese government to drop its austerity policies just as experts from the European Union and the International Monetary Fund are in Lisbon to assess Portugal's…
Expect more of the same
Even purveyors of the folklore about the resilience of Pakistan`s economy because of a `vibrant`, largely untaxed (despite its visibility) informal sector would acknowledge that the country faces serious economic…
European markets shudder at prospect of Berlusconi return
Europe is holding its breath at the prospect of a return to power of former Italian prime minister Silvio Berlusconi. Although he insists that he has no interest in being…
A careless caretaker government
There was no dearth of warnings about the impending economic crisis prior to the induction of the interim government. The PPP-led government had followed policies that led to a dire…
US Bank Secrecy Act of 1970: Currency reporting and crime of structuring
Despite provisions of currency reporting and the crime of structuring in the Bank Secrecy Act, 1970 neither the implementers nor the law enforcement agencies noted the importance of the measures.…
Global offshore money maze
All responsible governments in recent years have shown commitment to retrieving looted money by their citizens, but in Pakistan the PPP-led government during its five-year-tenure (2008-2013) acted as the main…
The hoopla on 62 and 63
Articles 62 and 63 of Pakistan’s constitution is the new proverbial hydra of Pakistan’s multifaceted internal challenges. Introduced into the constitution by the now much-reviled Ziaul Haq, the articles call…
Everything’s almost free in Spain’s parallel barter economy
It can be argued that extra-judicial interventions first by Ghulam Mohammad as Governor General in 1951 and later by military regimes and disregard of the Constitution - facilitated by either…
Cyprus bailout request another hurdle for eurozone
With empty state coffers, ailing banks and badly in need of a multi-billion-euro loan, the small island of Cyprus is like a drifting ship quickly running out of fuel. When…
