Φιλοευρωπαϊκός επαρχιωτισμός
Βαλντέν, Σωτήρης. Τη χειρότερη υπηρεσία στην ευρωπαϊκή υπόθεση, αλλά και στην αντίκρουση των (ακόμη) μειοψηφικών αντιευρωπαϊκών δυνάμεων στη χώρα μας, προσφέρουν κατά τη γνώμη μου όσοι ταυτίζουν την Ευρώπη με την άθλια πολιτική που ασκεί η σημερινή συντηρητική της ηγεσία, ιδιαίτερα στην αντιμετώπιση της κρίσης του ευρώ, και μάλιστα απέναντι στην Ελλάδα. Πηγή: protagon.gr πλήρες […]
Europe: After the crisis
Goodhart, Charles. The Eurozone could come to tatters temporarily. But the European ideal is so powerful that crisis and division will not permanently prevail. European leaders absorbed previous crises and bounced back to drive the European project forward. The same may happen again. This column discusses how the political and economic underpinning of the Eurozone […]
Germany and the Eurozone: Clutching disaster from the jaws of victory?
Muellbauer, John. For months economists have been arguing that Germany holds the key to ending the Eurozone crisis. Should it relax its anti-inflation stance and allow the ECB to inflate away sovereign debt? Or should it write a cheque of its own to the EFSF? Neither, says this column. There is a simple solution, if […]
What kind of fiscal union?
Marzinotto, Benedicta, Sapir, André & Wolff, Guntram. The euro area’s shortcomings have become abundantly clear. It was set up without powers of strict surveillance over macroeconomic imbalances, crisis management and resolution instruments, or adequate banking supervision and resolution tools. The core reason for these failures is the absence of a fiscal union with corresponding authority over […]
Why stricter rules threaten the eurozone
Whyte, Philip, Tilford, Simon. To restore confidence in the eurozone, leaders must fix its institutional flaws and stretch some rules in the interim. Instead, they are doing the opposite. Πηγή: Centre for European Reform πλήρες κείμενο
Neo-Calvinists and the Euro Crisis
Krugman, Paul. Ambrose Evans-Pritchard sends us to a very good essay by the Centre for European Reform warning of the consequences of relying on the “North European interpretation” of the eurozone crisis, which essentially sees the crisis as a morality tale, pitting those who sinned against those who stuck to the path of virtue. Πηγή: […]
To Put Europe Back on Track Try Listening to Voters
Crook, Clive. The European Union may not come through its current troubles in one piece. But if it does, it will need to engage, this time seriously, with fundamental questions that were raised and too quickly dismissed in the years before the euro was created. Even in the midst of the crisis, it isn’t too […]
The threat to use the printing press
Sinn, Hans-Werner. The first major crisis in the era of independent central banks is severely testing that independence – nowhere more so than the Eurozone. This column argues that the ECB is monetising the sovereign debt – a view widely held in Germany. It argues that the ECB is the Eurozone’s economic government with the […]
An Open Letter to Dr Jens Weidmann
Wyplosz, Charles. The EZ crisis is approaching a tipping point beyond which market panic and slow government reaction threaten to create a generation-defining loss of jobs, savings, and pensions. This open letter to the president of the German central bank presents arguments that counter German objections to using the Eurozone’s last remaining defence against economic […]
Speculative Attacks within or outside a Monetary Union: Default versus Inflation (what to do today)
Gros, Daniel. In this analytical policy brief, CEPS Director Daniel Gros explores whether there is a fundamental difference between a formal sovereign default with a haircut and debt monetisation, which reduces the purchasing power for investors by the same amount. He argues that there is indeed a difference because a formal sovereign default invariably leads […]