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Rescuing Europe from the Ground Up

Sinn, H.W., (2013), “Rescuing Europe from the Ground Up”, Project Syndicate, 21 December. The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes. The Acquis Communautaire protects all member states’ citizens under the rule of law. Anyone who doubts the existence of …Read More

A New Growth Bloc Against Germany’s Flawed Leadership

Hill, S., (2013), “A New Growth Bloc Against Germany’s Flawed Leadership”, Social Europe Journal, 17 December. What does the German Grand Coalition have to offer Europe? Not much. I have been carefully reading and weighing all the commentary regarding Germany’s Große Koalition (or GroKo) agreement, and it’s clear that the coalition agreement can be read as a testament to the current state of German political and economic philosophy. Having waited …Read More

The Re-Division of Europe

Papantoniou, Y., (2013), “The Re-Division of Europe”, Project Syndicate, 06 December. As the eurozone debt crisis has steadily widened the divide between Europe’s stronger northern economies and the weaker, more debt-laden economies in the south (with France a kind of no man’s land economy in between), one question is on everyone’s mind: Can Europe’s monetary union – indeed, the European Union itself – survive? While the eurozone’s northern members enjoy …Read More

Greece’s Reforms Have Only Cracked the Surface

Hatzis, A., (2013), “Greece’s Reforms Have Only Cracked the Surface”, The Wall Street Journal, 05 December. Last week Ángel Gurría, the secretary-general of the Organization for Economic Co-operation and Development, visited Athens to present the OECD’s latest economic survey of Greece. Since 2010, the report said, Greece “has made impressive headway in cutting its fiscal and external imbalances and implementing structural reforms to raise labor market flexibility and improve labor …Read More

Paths to full employment

Bernstein, J., (2013), “Paths to full employment”, The New York Times, Economix Blog, 02 Δεκεμβρίου. Economists like me, who stress the importance of full employment, have a bad habit. We go on and on about the problem of slack labor markets – their negative impact on the living standards of middle- and lower-income families, their persistence in recent decades – and then we stop without saying what might be done …Read More

The Greek paradox

Karamouzi, E., (2013), “The Greek paradox”. In LSE, The Crisis of EU Enlargement, London: LSE !deas. In recent years, Greece’s place in the EU has been ferociously debated as Athens’ financial and economic woes continue to trouble the stability of the euro and rattle the Eurozone markets. Contemporary press and European political elites alike engage in a seemingly endless blame game over the political origins of the Greek financial crisis. …Read More

Manufacturing Europe’s Future

Veugelers, R. (ed.), (2013), Manufacturing Europe’s Future, Brussels: Bruegel. ‘Industrial policy is back!’ This is the message given in the European Commission’s October 2012 communication on industrial policy (COM(2012) 582 final), which seeks to reverse the declining role of the manufacturing industry, and increase its share of European Union GDP from about 16 percent currently to above 20 percent. Historical evidence suggests that the goal is unlikely to be achieved. …Read More

Η Πρόταση 4.0

Βαρουφάκης, Γ., (2013), “Η Πρόταση 4.0”, Protagon.gr, 18 Νοεμβρίου. Τρία χρόνια πέρασαν από την πρώτη εμφάνιση της πρότασής μας για το πώς είναι δυνατόν να επιλυθεί η Κρίση του Ευρώ εδώ στο protagon – υπό τον σύντομο τίτλο «Πρόταση» στα ελληνικά και «Modest Proposal for Resolving the Euro Crisis» στα αγγλικά («Μια Μετριοπαθής Πρόταση για την Επίλυση της Κρίσης του Ευρώ»). Από τότε έχει προσαρμοστεί αρκετές φορές (βλ. π.χ. 2.0 …Read More

A Schuman compact for the euro area

Mody, A., (2013), “A Schuman compact for the euro area”, Bruegel, Bruegel Essay and Lecture Series, Νοέμβριος. Five years of crisis have pushed Europe to take emergency financial measures to cushion the free fall of distressed countries. However, efforts to turn the crisis into a spur for “an ever closer union” have met with political resistance to the surrender of fiscal sovereignty. If such a union remains elusive, a perpetual …Read More

Deepening the EMU: How to maintain and develop the European social model?

Fernandes, S. and Maslauskaite, K., (2013), Deepening the EMU: How to maintain and develop the European social model?”, Notre Europe – Jacques Delors Institute, Studies and Reports 101, Νοέμβριος. Notre Europe – Jacques Delors Institute publishes a study commissioned by the Federal Chancellery of Austria on the impact of the reforms currently implemented or mooted on national welfare states in the EMU. As Jacques Delors underlines in the foreword of …Read More