Austerity and Growth
Krugnan, Paul. Watching Europe sink into recession – and Greece plunge into the abyss – I found myself wondering what it would take to convince the chattering classes that austerity in the face of an already depressed economy is a terrible idea. Πηγή: The New York Times πλήρες κείμενο
A Questionable Axiom Of Austerity
Dalton, Matthew. One of the most important stories of the European debt crisis is the worse-than-expected damage that austerity has inflicted on the Greek economy. Because economies around the European Union are taking less potent versions of the medicine prescribed for Greece, the missteps there offer some insight into what can be expected as austerity […]
From Argentina to Athens?
El-Erian, Mohamed. Let me set the scene: an increasingly discredited economic policy approach gives rise to growing domestic social and political opposition, street protests and violence, disagreements among official creditors, and mounting concerns among private creditors about a disorderly default. In the midst of all of this, national leaders commit to more of the same […]
A New European Growth Agenda
Legrain, Phipilppe. Austerity alone cannot solve Europe’s economic and financial crisis. Growth and jobs need to be promoted with equal zeal. European Union leaders now recognize this: kick-starting growth in 2012 was high on the agenda at the European Council’s meeting on January 30. But the big question remains: How? Πηγή: Project Syndicate πλήρες κείμενο
How to Save the Euro
Soros, George. My new book, Financial Turmoil in Europe and the United States,1 tries to explain and, to the extent possible, predict the outcome of the euro crisis. It follows the same pattern as my other books: it contains an updated version of my conceptual approach and the application of that approach to a particular […]
The ECB’s trillion euro bet
Wyplosz, Charles. Spreads on public debts in the Eurozone – with the exception of Greece – are falling hard and fast. This column argues that this is in large part because the ECB is now effectively guaranteeing Eurozone government debts. But it cautions that in doing so, the central bank is taking enormous risks. Πηγή: […]
Τελευταία ευκαιρία
Βαρουφάκης, Γιάνης. Άλλη μια φορά, τα «μέσα ενημέρωσης», τόσο εδώ όσο και στο εξωτερικό, στενάζουν πάνω από το λάθος ερώτημα. Το ερώτημα δεν είναι αν θα συμφωνηθεί η νέα δανειακή σύμβαση Ελλάδας-τρόικας. Το ερώτημα είναι τι θα γίνει όταν (κι όχι εάν) δεν είναι δυνατόν να κρυφτεί η αποτυχία της. Πηγή: protagon.gr πλήρες κείμενο
Europe’s Tobin Tax Distraction
Eichengreen, Barry. At last, European leaders have revealed their top-secret plan for solving the euro’s crisis. And it is – drum roll – a version of the “Tobin tax,” a levy on financial transactions first suggested in 1972 by the Nobel laureate economist James Tobin. Πηγή: Project Syndicate πλήρες κείμενο
Germany’s Hidden Weaknesses
Norbert, Walter. With Greece once again nearing default, calls are going out this week for Germany to step in to help. And many Germans are, once again, responding with indignity, saying they shouldn’t have to bail out their profligate neighbors. Πηγή: The New York Times πλήρες κείμενο
It’s Time To End the Greek Rescue Farce
Kaiser, Stefan. Whether it be an escrow account or a budget commissioner, the latest demands by Germany show just how absurd negotiations over Greece’s future have become. It is high time to bring an end to this tragicomedy. Πηγή: Spiegel Online πλήρες κείμενο