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The Dialectics Of European Integration – A New Push For A Federal EMU?

Watt, Andrew, (2015), “The Dialectics Of European Integration – A New Push For A Federal EMU?”, Social Europe Journal, 2 Σεπτεμβρίου Whatever else they might disagree about, just about everybody commenting on Europe agree about this: the succession of crises – financial, economic, fiscal, and now refugees – have set Europe’s peoples against one another. Nationalist and racist parties are gaining strength on the Right – with a real risk …Read More

Democratizing the Eurozone

Varoufakis, Yanis, (2015), “Democratizing the Eurozone”, Project Syndicate, 1 Σεπτεμβρίου. Like Macbeth, policymakers tend to commit new sins to cover up their old misdemeanors. And political systems prove their worth by how quickly they put an end to their officials’ serial, mutually reinforcing, policy mistakes. Judged by this standard, the eurozone, comprising 19 established democracies, lags behind the largest non-democratic economy in the world. Σχετικές αναρτήσεις Βulmer, S., (2014), “Germany and …Read More

Dutch drama over Greek crisis

Pardijs, Dina, (2015), “Dutch drama over Greek crisis”, European Council on Foreign Relations, 24 Αυγούστου The Greek crisis may have claimed an unexpected new victim: Dutch Prime Minister Mark Rutte. In a five hour debate last week on the Dutch support for the latest bailout for Greece, the leader of the largest government party VVD was attacked by members of parties from across the political spectrum.The man who is often …Read More

Germany is stuck with a crisis it did not foresee and can no longer control

Snaith,  Holly, Nedergaard, Peter, (2015), “Germany is stuck with a crisis it did not foresee and can no longer control”, LSE blog, 25 Αυγούστου Germany is often described as a ‘reluctant hegemon’ in the sense that it has found itself pushed to the centre of EU affairs by the Eurozone crisis. Peter Nedergaard and Holly Snaith write that the increasing importance of Germany in the EU has resulted in a particular brand …Read More

The Euro Needs More Than Just One (German) Economic Policy Tool To Work

Amari, Giuseppe, (2015), “The Euro Needs More Than Just One (German) Economic Policy Tool To Work”, Social Europe Journal, 20 Αυγούστου Recently, at the height of the Greek drama, an editorial appeared in Corriere della Sera, entitled: ‘There is no Europe without the Euro, There is no Euro without Europe’. The first statement is both an historical and present falsehood, the second is a banality not worth commenting on. The euro has …Read More

Wolfgang Schäuble, Debt Relief, and the Future of the Eurozone

Mody, Ashoka, (2015), “Wolfgang Schäuble, Debt Relief, and the Future of the Eurozone”, Bruegel publications, 6 Αυγούστου The reason Schäuble is concerned is that the carefully constructed but fragile crisis management system—intended to insulate Germany from paying the bills of others—is now under threat. If Greece creates a precedent, then either the crisis management system goes, or a transfer union is effectively in place, with Germany on the hook. Hence …Read More

Explaining The EU’s Politics Of Austerity

Melloni, Nicola, (2015), “Explaining The EU’s Politics Of Austerity”, Social Europe Journal, 17 Αυγούστου What is the logic behind austerity? The standard explanations given during the last five years do not hold solid ground. Many – including famous economists and central bankers – had supported budgetary cuts to restore market confidence. Markets, however, were hardly impressed: operators care about profits – usually associated with growth – and cuts in the …Read More

Saving the euro at all costs could lead to the hollowing out of European democracy

Ruser, Alexander, (2015), “Saving the euro at all costs could lead to the hollowing out of European democracy”, LSE blog, 15 Αυγούστου Abraham Lincoln defined democracy as government of the people, by the people, for the people. Markets, however, he chose not to mention at all. It may be that Mr Lincoln was dealing with an idealistic, out-dated definition of democracy.A brief look at the recent discussion about the viability of democracies …Read More

Iceland, Greece and political hectoring

Danielsson, Jon, (2015), “Iceland, Greece and political hectoring”, Voxeu, 13 Αυγούστου The Greek and the Icelandic crisis have much in common, not the least the heavy pressure from foreign countries and the hectoring from their public officials. In Iceland and in Greece this was counterproductive, hardening the opposition to any settlement. The will to reform needs to come from within, and the sooner the Troika realizes this, the easier it will …Read More

The Euro, Like The Gold Standard, Is Doomed To Fail

Pettifor, Ann, (2015), “The Euro, Like The Gold Standard, Is Doomed To Fail”, Social Europe Journal, 31 Ιουλίου On 20th July, 2015 Jacques Delors reached the grand old age of ninety years. President Hollande saluted the elder statesman and told Journal du Dimanche, that “in the past week the European spirit (had) prevailed” in addressing the Greek crisis. This referred to the long, brutal and historic overnight negotiations of 12th July, between …Read More