The emperor has no clothes
Tabellini, Guido. Last week’s failed German government bond auction raised alarms across Europe; some say the Eurozone only has days to avoid collapse. This column argues that unless the Eurozone and particularly the ECB changes its anti-inflationary stance, the troubles will only get worse. The Eurozone is broken, and it is time to admit it. […]
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 […]
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 […]
Boring Cruel Romantics
Krugman, Paul. There’s a word I keep hearing lately: “technocrat.” Sometimes it’s used as a term of scorn — the creators of the euro, we’re told, were technocrats who failed to take human and cultural factors into account. Sometimes it’s a term of praise: the newly installed prime ministers of Greece and Italy are described […]
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 New Progressive Movement
Sachs, Jeffrey. Occupy Wall Street and its allied movements around the country are more than a walk in the park. They are most likely the start of a new era in America. Historians have noted that American politics moves in long swings. We are at the end of the 30-year Reagan era, a period that […]
Europe against the people?
Efforts to save the euro cannot run against the will of the voters indefinitely. Europe has claimed the scalps of two leaders in almost as many days. First George Papandreou, the Greek prime minister, promised to resign, and then Italy’s Silvio Berlusconi did the same. Both leaders have been in trouble for some time, but […]
Europe’s Next Nightmare
Rodrik, Dani. As if the economic ramifications of a full-blown Greek default were not terrifying enough, the political consequences could be far worse. A chaotic eurozone breakup would cause irreparable damage to the European integration project, the central pillar of Europe’s political stability since World War II. It would destabilize not only the highly-indebted European […]
Graduates Versus Oligarchs
Krugman, Paul. Dean Baker raises an important point here: it’s really awfully late in the game to be saying that the important inequality issue is college graduates versus non-graduates. It’s not clear that this was ever true, and it certainly hasn’t been true for a while. Πηγή: The New York Times πλήρες κείμενο