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The End Of German Hegemony – Really?

Saraceno, Francesco, (2015), “The End Of German Hegemony – Really?”, Social Europe, 3 November. I was puzzled by Daniel Gros’ recent column in which he claims that Germany’s dominance of the EMU may be coming to an end. Gros’ argument is based on two facts. The first is the slowing growth rate of Germany, that seems to be heading towards the pre-crisis “normal” of slow growth (Germany grew less than the EMU …Read More

Greece’s Long Road From ‘No’ to ‘Yes’

Konstandaras, Nikos, (2015), “Greece’s Long Road From ‘No’ to ‘Yes’”, The New York Times, 26 October Greeks will commemorate the Oct. 28 national holiday in a very different country from what it was a year ago. The anniversary marks the day in 1940 when a Greek government rejected an ultimatum from Fascist Italy to allow its troops to enter the country. The “No” (“Ochi” in Greek) united a deeply divided country …Read More

PostCapitalism: The Economy Of The Future?

Mason, Paul, (2015), “PostCapitalism: The Economy Of The Future?”, Social Europe Journal, 26 October Over the past two centuries or so, capitalism has undergone continual change – economic cycles that lurch from boom to bust – and has always emerged transformed and strengthened. Surveying this turbulent history, journalist and Channel 4 economics news editor Paul Mason wonders whether this time capitalism itself has reached its limits and is changing into …Read More

The macro-micro conflict

Danielsson, Jon, Fouché, Morgane, Macrae, Robert, (2015), “The macro-micro conflict”, Voxeu, 20 October There has always been conflict between macro- and microeconomic regulation. Microeconomic policy reigns supreme during good times, and macro during bad. This column explains that while the macro and micro objectives have always been present in regulatory design, their relative importance has varied according to the changing requirements of economic, financial and political cycles. The conflict between the two seems set to …Read More

How will refugees affect European economies?

Huttl, Pia, Leandro, Alvaro, (2015), “How will refugees affect European economies?”, Bruegel publications, 19 October What’s at stake: The continuing wave of refugees arriving at the borders of the European Union has sparked discussions all around Europe on how to deal with it, and what the impact will be on the European economies. We review the blog discussions on the economic impact of the refugees, and the challenges that they …Read More

Clueless in Europe

Mody, Ashoka, (2015), “Clueless in Europe”, Bloomberg View, 19 October Despite a slowing Chinese economy, decelerating inflation and a stronger euro, European Central Bank President Mario Draghi has said he will do more to support euro-area growth only “if necessary.” He should stop listening to Europe’s scolds and do the right thing. Relevant Posts Gros, Daniel, (2015), “The End of German Hegemony”, Project Syndicate, 15 October Weeks, John, (2015). “Euro Deflation …Read More

The End of German Hegemony

Gros, Daniel, (2015), “The End of German Hegemony”, Project Syndicate, 15 October Without anyone quite noticing, Europe’s internal balance of power has been shifting. Germany’s dominant position, which has seemed absolute since the 2008 financial crisis, is gradually weakening – with far-reaching implications for the European Union. Of course, from a soft-power perspective, the mere fact that people believe Germany is strong bolsters the country’s status and strategic position. But it …Read More

Reviving The EU Social Dimension: A Political Choice

Schellinger, Alexander, (2015),  “Reviving The EU Social Dimension: A Political Choice”, Social Europe Journal , 15 October The social dimension of the EU is on the verge of becoming insignificant. At practically all levels there has been a systematic weakening of Social Europe: aims, programmes and instruments have been reduced in the areas of employment policy, labour law and labour relations. The Community is rolling back previous achievements. Workers and trade unions …Read More

The Crisis Europe Needs

Eichengreen, Barry, (2015), “The Crisis Europe Needs”, Social Europe Journal, 15 October It’s hard to be optimistic about Europe. Last summer, a political cage match between Germany and Greece threatened to tear the European Union apart. In country after country, extremist political parties are gaining ground. And Russian President Vladimir Putin’s incursion into Ukraine, in the EU’s backyard, has turned the common European foreign and security policy into a punch …Read More

The BRICS Fallacy

Palacio, Ana, (2015), “The BRICS Fallacy”, Project Syndicate, 29 September The recent downgrade of Brazil’s credit rating to junk status was followed by a raft of articles heralding the crumbling of the BRICS (Brazil, Russia, India, China, and South Africa). How predictable: schadenfreude almost always follows bad news about the BRICS, whose members were once hailed as the world’s up-and-coming economic powerhouses and next major political force. Relevant Posts Παπανικολάου, …Read More