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Argentina and Greece: More similarities than differences in the initial conditions

Kiguel, Miguel, (2011) ‘Argentina and Greece: More similarities than differences in the initial conditions’,  www.voxeu.org, 17 Αυγούστου. A decade ago Argentina was in the midst of a severe economic crisis. This column argues that the episode offers lessons for the Eurozone today. Unless Greece takes major steps to improve its competitiveness and growth prospects, the country has little hope to get out of this crisis.

To stabilize the Eurozone, the ECB must set aside its fears and start buying governments’ bonds

De Grauwe, Paul, (2012), ‘To stabilize the Eurozone, the ECB must set aside its fears and start buying governments’ bonds’, blogs.lse.ac.uk, 31 Ιουλίου. Government bond markets in Europe remain volatile, with Spanish and Italian bond rates at near unsustainable levels. Paul De Grauwe argues that the only institution that can stabilize these markets by buying government bonds is the European Central Bank (ECB). The ECB must now overcome its risk averse nature …Read More

Thanks to the ECB

Wyplosz, Charles, (2012), ‘Thanks to the ECB’ ,www.voxeu.org, 30 Ιουλίου. Financial markets once again pushed Eurozone leaders to act. European Central Bank President Draghi recently promised to “do whatever it takes”. This column argues that Draghi made an implicit commitment to act as lender of last resort to Eurozone governments. This means optimism may be justified – if only because it suggests that the Eurozone has a great central banker …Read More

The European Banking Union?

Sinn, Hans Werner, (2012), ‘The European Banking Union?’, www.project-syndicate.org, 13 Ιουνίου. In blatant violation of the Maastricht Treaty, the European Commission has come forward with one bailout plan after another for Europe’s distressed economies. Now it wants to socialize not only government debt by introducing Eurobonds, but also banking debt by proclaiming a “banking union.”  

Η εκδίκηση των δούλων και η εφεδρεία των μακαριτών: Η πολιτική οικονομία της μακροοικονομικής σταθεροποίησης

Κουτσιαράς, Νίκος, 2012, Η εκδίκηση των δούλων και η εφεδρεία των μακαριτών: Η πολιτική οικονομία της μακροοικονομικής σταθεροποίησης, Αθήνα: Παπαζήσης. Η πασίγνωστη αποστροφή του John Maynard Keynes ηχεί ως προειδοποίηση στους ανθρώπους της πράξης – και τους πολιτικούς. «Πρακτικοί άνθρωποι που θεωρούν ότι δεν υφίστανται οποιαδήποτε πνευματική επιρροή, συνήθως, είναι οι δούλοι κάποιου μακαρίτη οικονομολόγου». Οι σύγχρονοι  θεωρητικοί της μετα-Κεϋνσιαν(ιστικ)ής μακροοικονομικής εποχής θα προσυπέγραφαν, μπορεί με ενθουσιασμό, αυτήν την προειδοποίηση, …Read More

Benchmarking Unemployment Benefit Systems

Stovicek, Klara, Turrini, Alessandro  ‘Benchmarking Unemployment Benefit Systems’, European Economy Economic Papers, N. 454. This paper proposes a methodology for benchmarking unemployment benefits systems, with a view to assess reform needs and priorities. The methodology permits to assess different dimensions of unemployment benefit systems and to consider alternative relevant benchmarks. Looking at all relevant dimensions allows to better gauge how unemployment benefit systems perform in terms of their multi-faceted objectives (such as income …Read More

The Political Economy of the Crisis:The End of an Era?

Tsoukalis, Loukas, (2012), ‘The Political Economy of the Crisis:The End of an Era?’, Dahrendord Symposia Series Working Paper 2012-04. Τhe crisis we are going through will shape Europe and European integration for years to come; it also risks leading Europe down the road to disintegration. The crisis of the euro is part and parcel of a much broader crisis that has resulted from the bursting of the biggest bubble in …Read More

The Euro-Exit Taboo

Dadush, Uri,  (2012), ‘The Euro-Exit Taboo’, nationalinterest.org, 1 Μαίου. Stay or leave? Should Greece persist with its extreme austerity plan, or should it abandon the euro? What about Portugal? Spain? In mainstream political discourse, posing the question of euro exit is taboo. When Prime Minister Papandreou of Greece, an ardent European, unexpectedly proposed a national referendum on the matter (one he expected adherents to the euro to win) he was …Read More