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Why the Eurozone suffers from a Germany problem

Wren-Lewis, S. (2014) “Why the Eurozone suffers from a Germany problem“, Mainly Macro Blog, 26 Οκτωβρίου.   When, almost a year ago, Paul Krugman wrote six posts within three days laying into the stance of Germany on the Eurozone’s macroeconomic problems, even I thought that maybe this was a bit too strong, although there was nothing in what he wrote that I disagreed with. Yet as Germany’s stance proved unyielding …Read More

How Germany Conquered Europe in 25 Years

Mishra, P. (2014) “How Germany Conquered Europe in 25 Years“, Bloomberg View, 26 Οκτωβρίου.   On Nov. 9, Berlin will celebrate the 25th anniversary of the fall of the wall that divided the city during much of the Cold War. At the time, images of exuberant wall-breakers signaled the end of communism. A quarter-century later, the event seems to have also been a prelude to the rebirth of Berlin and …Read More

Britain’s EU membership hangs by one less thread

Salamone, A. (2014) “Britain’s EU membership hangs by one less thread“, Britain’s Europe Blog, 27 Οκτωβρίου.   Britain, it seems, owes the European Union a certain sum of money. In every year since 2002, it has underpaid into the EU budget and the day of reckoning has finally arrived. However, as usual when it comes to ‘Europe’ for the UK, symbolism triumphs over substance. The country has been hit with …Read More

The Eurozone’s Problems Are Based in Politics

Nixon. S. (2014) “The Eurozone’s Problems Are Based in Politics“, Wall Street Journal, 19 Οκτωβρίου.   Some say the euro crisis is back; others argue that it never really went away. A gloomy forecast from the International Monetary Fund suggesting a 40% chance of a slide back into recession and a flurry of weak data pointing to a faltering recovery, particularly in Germany, have spooked markets. Once again, the eurozone …Read More

The ECB as lender of last resort?

Goodhart, C. & Schoenmaker, D. (2014) “The ECB as lender of last resort?“, VoxEU Organisation, 23 Οκτωβρίου.   As part of the move to a banking union, the largest banks in the Eurozone will soon be supervised by the ECB. This column argues that supervision and the lender of last resort function should be seen as a joint product. After the introduction of the euro, the national central banks continued …Read More

A New Age Of IMF Bailouts – Great Britain In The 1970s

Tavares, E. M. (2014) “A New Age Of IMF Bailouts – Great Britain In The 1970s“, ΘZeroHedge, 12 Οκτωβρίου.   Hearing of IMF interventions generally conjures up images of developing nations (and the occasional Eurozone peripheral economy of late) facing some kind of financial difficulty. But it was actually Great Britain, the cradle of the industrialized world, which in 1976 became one of the first countries ever to be “bailed …Read More

Beware of Europe’s Policy Hardening

El-Erian, Α. Μ. (2014) “Beware of Europe’s Policy Hardening“, Bloomberg View, European Economy, 10 Οκτωβρίου.   Judging from the recent remarks by European officials, policy positions are hardening once again in the euro zone. Fueled by disappointing economic performance, the risk is that the deepening difference in views in Europe will further complicate a much-needed recovery. This is regrettable because it need not be so. Having flirted with a disorderly …Read More

ECB Gets a Small Win

Gilbert, M. (2014) “ECB Gets a Small Win“, Bloomberg View, 10 Οκτωβρίου.   The European Central Bank has been justifiably criticized for its claim that the magic of asset-backed bonds can reverse Europe’s slump back into recession. It got some support, though, from an unlikely source this week — the market for car loans in Finland. By the end of the year, Spain’s Banco Santander plans to bundle together a …Read More

Europe’s sea of death for migrants is a result of war and escalating inequality

Seumas Milne, “Europe’s sea of death for migrants is a result of war and escalating inequality“, The Guardian, Thursday 9 October 2014.   The carnage on our borders will only grow without a radical shift from an iniquitous and failed system The Mediterranean has become Europe’s sea of death. More than 3,000 refugees and migrants have already been killed this year trying to escape war and poverty in Africa and …Read More

Pragmatism is beginning to trump ideology in Europe’s ‘public-private’ debate over healthcare

Saltman, R. (2014) “Pragmatism is beginning to trump ideology in Europe’s ‘public-private’ debate over healthcare“, LSE EUROPP, 09 Οκτωβρίου.   The merits of public vs private healthcare have traditionally formed one of the key ideological divisions between European political parties. Richard B. Saltman writes that while this debate has often been exceptionally heated, over the last few decades a number of European countries have started to take a more pragmatic …Read More