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Why is Europe Not ‘Coming Together’ in Response to the Euro Crisis?

Varoufakis, Y. (2014) “Why is Europe Not ‘Coming Together’ in Response to the Euro Crisis?”, Yanis Varoufakis Blog: thoughts for the post-2008 world, 29 Αυγούστου.   In this article I ask a question on everyone’s lips: Almost everyone agrees that the Eurozone was a one-legged giant; a monetary union lacking a political ‘leg’ to stabilise it. If so, why has the Euro Crisis (which surely strengthened that view on the back …Read More

Οι μισές αλήθειες της ευρωκρίσης

Παγουλάτος, Γ. (2014) “Οι μισές αλήθειες της ευρωκρίσης“, Εφημερίδα Καθημερινή, 31 Αυγούστου.   Η ​​ αντιμετώπιση της ευρωκρίσης στηρίχθηκε σε μισά μέτρα – γι’ αυτό η κρίση συνεχίζεται. Ο διάλογος στην Ευρωζώνη διεξάγεται με μισές αλήθειες – γι’ αυτό δυσχεραίνονται οι συναινέσεις για την υπέρβαση της κρίσης. Η μισή αλήθεια της κυβέρνησης Μέρκελ είναι ότι η ανάπτυξη, ιδίως στις χώρες του Νότου, θα έρθει με εθνικές μεταρρυθμίσεις. Πράγματι, χωρίς διαρθρωτικές …Read More

A missed opportunity

Sonntag, A. (2014) “A missed opportunity“, EU-Asia Institute at ESSCA School of Management, 01 Σεπτεμβρίου.   20 years ago, on the 1st of September 1994, two German MPs from the CDU led by Helmut Kohl published a position paper, which bore the innocuous title ‘Reflexions on European Politics’ and which became quickly named the ‘Schäuble-Lamers Paper’ after its authors. The propositions and recommendations formulated in this rather dense document of …Read More

Monthly Bulletin

European Central Bank (2014) “Monthly Bulletin“, ECB Eurosystem, Αύγουστος.   Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 7 August 2014 to keep the key ECB interest rates unchanged. The available information remains consistent with the Governing Council’s assessment of a continued moderate and uneven recovery of the euro area economy, with low rates of inflation and subdued monetary and credit dynamics. …Read More

Keynes and the International Clearing Union: A Possible Model for Eurozone Reform?

Whyman, P. B. (2014) “Keynes and the International Clearing Union: A Possible Model for Eurozone Reform?“, JCMS: Journal of Common Market Studies. doi: 10.1111/jcms.12180, 07 Αυγούστου.   Economic and monetary union in Europe, as currently constituted, has a number of structural weaknesses. Large, persistent international payments imbalances necessitate deficit nations to deflate their economies or squeeze social wages in order to restore competitiveness. Surplus nations accrue reserves, with little pressure to …Read More

Improving the role of equity crowdfunding in Europe’s capital markets

Wilson, Ε. Κ. & Testoni, M. (2014) “Improving the role of equity crowdfunding in Europe’s capital markets“, Bruegel Organisation, 29 Αυγούστου.   Crowdfunding is a growing phenomenon that encompasses several different models of financing for business or other ventures. Despite the hype, equity crowdfunding is still the smallest part of the crowdfunding market. Because of its legal framework, Europe has been at the forefront of equity crowdfunding market development. Equity …Read More

A European sanctions compensation fund?

Gros, D. (2014) “A European sanctions compensation fund?“, Economic Policy, CEPS Commentaries, 12 Αυγούστου.   Daniel Gros explores in a new CEPS Commentary the feasibility of creating a common fund to provide compensation for the economic costs of sanctions as an integral part of the EU’s foreign-policy stance that is now emerging towards Russia, albeit slowly and painfully.  Τhe EU has now finally agreed to impose ‘third-level sanctions’ against Russia. …Read More

Is Europe saving away its future? European public funding for research in the era of fiscal consolidation

Veugelers, R. (2014) “Is Europe saving away its future? European public funding for research in the era of fiscal consolidation“, VoxEU Organisation, 28 Αυγούστου.   The Crisis affected public spending. Research and innovation is one area often highlighted as needing protection. This column does not find strong evidence that European countries sacrificed research and innovation more than other government expenditure. However, there is strong heterogeneity across countries. Innovation lagging and …Read More

European Bond Market: Bubble of all Bubbles!

EconMatters (2014) “European Bond Market: Bubble of all Bubbles!“, Global Market Economics Matters, 27 Αυγούστου.   European Bond Rush Right now investors in European Bonds are running over each other all in an effort to front run what the Big Banks have been begging the ECB to begin a bond buying program similar to the United States’ QE bond buying program.  Tourism has its Limitations It is hilarious as European …Read More

Coaching Disadvantaged Young People: Evidence from Firm Level Data

Mohrenweiser, J. & Pfeiffer, F. (2014) “Coaching Disadvantaged Young People: Evidence from Firm Level Data“, ZEW Discussion Paper No. 14-054, Centre for European Economic Research, Αύγουστος.   This paper analyses the risk of unemployment, unemployment duration and the risk of longterm unemployment immediately after apprenticeship graduation. Unemployed apprenticeship graduates constitute a large share of unemployed youth in Germany but unemployment incidence within this group is unequally distributed. Our paper extends …Read More