Little time for Italy
Manasse, Paolo & Trigilia, Guilio. The Eurozone crisis now extends to Italy. Markets’ pricing of credit default swaps shows that Italy’s troubles are home-baked and that matters are rapidly coming to a head. The risk of default has now become concentrated on the very short run. This suggests that Eurozone leaders may be rapidly punished by […]
Social progress in the 21st Century
Major new publication on how Europe’s centre-left parties can return as forces of social and economic progress A decade into the new century, Europe is beset by a striking mood of social pessimism. The post-war baby boomer generation harbours real fears about the future, as it looks like life will not be as good for […]
Λίνα Σπηλιοπούλου: Η πολιτική οικονομία της Ελληνικής και Ιρλανδικής κρίσης και η απάντηση της Ευρωζώνης
Διακηρυγμένος στόχος των μνημονίων είναι η επιστροφή Ελλάδας και Ιρλανδίας στις διεθνείς αγορές κεφαλαίου. Οι αγορές όμως δεν δείχνουν να πείθονται και τα spreads παραμένουν υψηλά, γεγονός που δημιουργεί απορίες για το κατά πόσο το περιεχόμενο των μνημονίων διευθετεί ικανοποιητικά το πρόβλημα της κάθε χώρας. Παρακάτω, με οδηγό την εθνικολογιστική ταυτότητα (Υ=C+I+G+ΝΧ1) θα αναφερθούμε στα […]
A global minimum wage system
Palley, Thomas. The global economy is suffering from severe shortage of demand. In developed economies that shortfall is explicit in high unemployment rates and large output gaps. In emerging market economies it is implicit in their reliance on export-led growth. In part this shortfall reflects the lingering disruptive effects of the financial crisis and Great […]
The Eurozone’s Last Stand
Roubini, Nouriel. The eurozone crisis is reaching its climax. Greece is insolvent. Portugal and Ireland have recently seen their bonds downgraded to junk status. Spain could still lose market access as political uncertainty adds to its fiscal and financial woes. Financial pressure on Italy is now mounting. By 2012, Greek public debt will be above […]