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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

The New Intergovernmentalism: European Integration in the Post-Maastricht Era

Bickerton, Christopher, Hodson, Dermot, Puetter, Uwe, (2015), “The New Intergovernmentalism: European Integration in the Post-Maastricht Era”, Journal of Common Market Studies, Volume 53, Issue 4, pages 703–722, July 2015 The post-Maastricht period is marked by an integration paradox. While the basic constitutional features of the European Union have remained stable, EU activity has expanded to an unprecedented degree. This form of integration without supranationalism is no exception or temporary deviation from traditional …Read More

Does Banking Union Worsen the EU’s Democratic Deficit? The Need for Greater Supervisory Data Transparency

Gandrud, Christopher, Hallerberg, Mark, (2015), “Does Banking Union Worsen the EU’s Democratic Deficit? The Need for Greater Supervisory Data Transparency”, Journal of Common Market Studies, Volume 53, Issue 4, Pages 703–935,  July 2015 Does banking union exacerbate the European Union’s democratic deficit? Using Scharpf’s ‘input’ and ‘output’ legitimacy concepts, it is argued in this article that its design does worsen the democratic deficit. There are good reasons to limit ‘input legitimacy’ for …Read More

Germany, Not Greece, Should Exit the Euro

Mody, Ashoka, (2015), ” Germany, Not Greece, Should Exit the Euro”, Bloomberg View, 17 Ιουλίου The latest round of wrangling between Greece and its European creditors has demonstrated yet again that countries with such disparate economies should never have entered a currency union. It would be better for all involved, though, if Germany rather than Greece were the first to exit. Σχετικές Αναρτήσεις Gow, David, (2015), “Germany Undoes 70 Years …Read More

Germany Undoes 70 Years Of European Policy

Gow, David, (2015), “Germany Undoes 70 Years Of European Policy”, Social Europe Project, 17 Ιουλίου When I was a correspondent in Germany two decades ago, in the run-up to unification and thereafter, interviews with Helmut Kohl, Hans-Dietrich Genscher and other senior politicians – such as Wolfgang Schäuble, who negotiated the two Germanys into one – would always end with the mantra: “We want a European Germany, not a German Europe.” …Read More

Greece: An Update of IMF Staff’s Preliminary Public Debt Sustainability Analysis

IMF, (2015),  “Greece: An Update of IMF Staff’s Preliminary Public Debt Sustainability Analysis”, July. Greece’s public debt has become highly unsustainable. This is due to the easing of policies during the last year, with the recent deterioration in the domestic macroeconomic and financial environment because of the closure of the banking system adding significantly to the adverse dynamics. The financing need through end-2018 is now estimated at Euro 85 billion …Read More

Minimum Wage or Living Income?

Skideslky, Robert, 92015), “Minimum Wage or Living Income?”, Project Syndicate, 16 Ιουλίου Most rich countries now have millions of “working poor” – people whose jobs do not pay enough to keep them above the poverty line, and whose wages therefore have to be subsidized by the state. These subsidies take the form of tax credits.The idea is a very old one. England implemented its “Speenhamland” system – a form of …Read More