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There is more to the Eurozone than the division between ‘North’ and ‘South’

Kral, Daniel, (2015), “There is more to the Eurozone than the division between ‘North’ and ‘South’”, LSE blog, 30 Ιουλίου. Opposition to the proposed Greek bailout deal has generally focused on the role of Germany, but how do other Eurozone states view the debt crisis? Daniel Kral notes that while there is a tendency to present the crisis as a stand-off between the Eurozone’s ‘North’ and ‘South’, the situation is …Read More

The Eurozone’s German Problem

Legrain, Philippe, (2015), “The Eurozone’s German Problem”, Social Europe Journal, 27 Ιουλίου The eurozone has a German problem. Germany’s beggar-thy-neighbor policies and the broader crisis response that the country has led have proved disastrous. Seven years after the start of the crisis, the eurozone economy is faring worse than Europe did during the Great Depression of the 1930s. The German government’s efforts to crush Greece and force it to abandon …Read More

Europe’s Gravest Threat: Doctrines Diverged

Hanska, Max, (2015), “Europe’s Gravest Threat: Doctrines Diverged”, LSE blog, 23 Ιουλίου Europe’s fiscal and economic crisis has revealed rifts in, what is often assumed to be a common understanding of the ‘European Project.’ Nowhere did the fact that different nations understand the ‘European Project’ quite differently come to a fore as explicitly as during 17 hour negotiations over a 3rd ESM programme for Greece—and particularly, in what different European nations view as …Read More

Hollande proposes a Eurozone government

Scarpetta, Vincenzo, (2015), “Hollande proposes a Eurozone government”, Open Europe blog, 20 Ιουλίου Almost inevitably, the Greek crisis has reignited the debate over the future of Eurozone integration. Whatever happens with Greece – the country’s euro exit is definitely not off the table – it is clear that, at least in terms of rhetoric and intentions, we are likely to witness a renewed push for closer ties among the countries sharing …Read More

Political Union Now!

Techau, Jan, (2015), “Political Union Now!”, Carnegie Europe, 13 Ιουλίου Let’s put aside Angela Merkel’s economic wisdom in the Greek crisis for the moment. To be sure, as an economics layman with a penchant for fiscal conservatism, Merkel’s alleged toughness sounded reasonable to me, partly because it was well cushioned by enormous generosity. I think she basically had it right, and that her strategy for the euro crisis was better than …Read More

Europe’s Civil War

Slaughter, Anne-Marie, (2015), “Europe’s Civil War”, Project Syndicate, 21 Ιουλίου The negotiations leading up to the latest tentative deal on Greece’s debt brought into relief two competing visions of the European Union: the flexible, humane, and political union espoused by France, and the legalistic and economy-focused union promoted by Germany. As François Heisbourg recently wrote, “By openly contemplating the forced secession of Greece [from the eurozone], Germany has demonstrated that …Read More

Germany, Greece, and the Future of Europe

Sachs, Jeffrey, (2015), “Germany, Greece, and the Future of Europe”, Project Syndicate, 20 Ιουλίου I have been helping countries to overcome financial crises for 30 years, and have studied the economic crises of the twentieth century as background to my advisory work. In all crises, there is an inherent imbalance of power between creditor and debtor. Successful crisis management therefore depends on the creditor’s wisdom. In this regard, I strongly …Read More

Μια λιγότερο τέλεια Ένωση-Η Ευρώπη μετά την ελληνική κρίση χρέους

McNamara, Kathleen, ” Μια λιγότερο τέλεια Ένωση-Η Ευρώπη μετά την ελληνική κρίση χρέους”, Foreignaffairs, 20 Ιουλίου Η Ευρωπαϊκή Ένωση είναι ένα απαράμιλλο ιστορικό πείραμα διακυβέρνησης. Δεν υπάρχει άλλο παράδειγμα στην σύγχρονη εποχή τόσο έντονης προσπάθειας για την δημιουργία μιας ειρηνικής, ευημερούσας πολιτικής κοινότητας πέραν του έθνους-κράτους. Χαλυβδωμένη από τις στάχτες δύο καταστροφικών παγκόσμιων πολέμων και μιας μεγάλης ύφεσης, η ένωση των εθνών-κρατών έχει γίνει αυξανόμενα στενότερη μέσω αγορών, νόμων και θεσμών. …Read More

Greece and Germany’s game of chicken

Boehnke, Olaf, (2015), “Greece and Germany’s game of chicken”, European Council on Foreign Relations Commentary, 17 Ιουλίου “We are both heading for the cliff. Who jumps first is the chicken” were the famous last words of James Dean’s opponent in the classic movie “Rebel Without A Cause”. The game of chicken is a standard model of conflict for two players in game theory. While game theorist and sometime finance minister Yanis …Read More

The dark clouds of peace-Built to foster friendship, the euro is manufacturing misery instead

Economist, (2015), “The dark clouds of peace-Built to foster friendship, the euro is manufacturing misery instead”, 18 Ιουλίου UNRAVELLING the tangled logic of Greece’s bail-out talks, Charlemagne has learned, is a little like trying to explain the rules of cricket to an American. How to make sense of a process in which Greek voters loudly spurn a euro-zone bail-out offer in a referendum, only to watch Alexis Tsipras, their prime …Read More