Finkeldey, J. (2015) “Why Marxism fails in the Eurozone“, The European Magazine, 27 Φεβρουαρίου. Yanis Varoufakis dubbed himself an “erratic Marxist” and presented his interpretation of Marx in detail. But his dialectical spirit is unlikely to succeed. Karl Marx’s dream has come true: Europe is suffering in a long recession and some European capitals are under siege by indignant citizens. But are we really on the brink of disintegration …Read More
Note from Berlin: The Greek compromise
Dullien, S. (2015) “Note from Berlin: The Greek compromise“, European Council on Foreign Relations, 26 Φεβρουαρίου. When the eurozone finance ministers came up with a compromise with the new Greek government on the rescue package last week, the German media almost unanimously applauded Finance Minister Wolfgang Schäuble and Chancellor Angela Merkel. Although, later, there was some grumbling about the details of the list of reforms, the general tough stance …Read More
Don’t mention the war! er the Troika…
Mitchell, B. (2015) “Don’t mention the war! er the Troika…“, Bill Mitchell Blog, 26 Φεβρουαρίου. “Don’t mention the war”! was a classic line from the episode – The Germans – in the comedy Fawlty Towers. Basil Fawlty implored his meagre staff to stay silent in case they offended some German tourists staying at his hotel. His attempt at self-censorship failed and led to hilarious consequences. I was reminded of …Read More
Fiscal multipliers in downturns and the effects of Eurozone consolidation
Gechert, S., Hughes Hallett, A. & Rannenberg, A. (2015) “Fiscal multipliers in downturns and the effects of Eurozone consolidation“, Centre for Economic Policy Research, Policy Insight No. 79, 25 Φεβρουαρίου. The literature on fiscal multipliers has expanded greatly since the outbreak of the Global Crisis. This column introduces CEPR Policy Insight 79, which reports on a meta-regression analysis of fiscal multipliers collected from a broad set of empirical reduced form …Read More
Four misperceptions about Greece
Sandbu, Μ. (2015) Four misperceptions about Greece, Financial Times, 23 Φεβρουαρίου. At best, it’s the end of the beginning On Friday, Free Lunch called the eurogroup meeting on Greece “the next of many high noons”, and so it will prove this week. Much like previous “breakdowns in talks” were nothing of the sort, Friday’s “agreement” was not one either. The FT‘s Peter Spiegel gives a quick summary of what …Read More
Was it worth it? Concessions to Greece relative to the rejected draft of 16 February
Norbert Häring: Was it worth it? Concessions to Greece relative to the rejected draft of 16 February, Norbert Häring – Geld und Mehr Blog, 21 Φεβρουαρίου 2015. On 16 February talks in the Eurogroup failed after Greece rejected a draft statement and received an ultimatum to ask for an extension of the current program before 20 February. Greece sent the letter and the Eurogroup reassembled on 20 February, agreeing on …Read More
Greece’s Reprieve: In Praise of Kicking the Can Down the Road
Mauro, Ρ. (2015) “Greece’s Reprieve: In Praise of Kicking the Can Down the Road“, Peterson Institute, RealTime Economic Issues Watch, 24 Φεβρουαρίου. The melodrama in Greece has produced demands that Athens and its European partners take decisive action to fix a complicated situation once and for all. In fact, kicking the can down the road—as the players did recently to avert a financial crisis—is an underrated and long-standing feature …Read More
Greece: Austerity for the Bankers
Michael Hudson says Greece’s Finance Minister Varoufakis is proposing austerity on the banking class rather than on the working class to balance the budget. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. The four-month extension secured by the Greek finance minister, Yanis Varoufakis, on Friday came with the condition that Greece provide a list of measures to quell …Read More
We are glimpsing at the outlines of a new economic system
Conversation by Lars Mensel and Max Tholl with Jeremy Rifkin: “We are glimpsing at the outlines of a new economic system”, The European Magazine, 25 Φεβρουαρίου 2015. Economist and bestselling author Jeremy Rifkin argues that our grandchildren will pity our working conditions and that a bright future is not a utopian dream but an achievable goal. The European: Mr. Rifkin, the visions you formulate in your recent book “The …Read More
Mapping the Greek party system after the 2015 elections: how the economy and Europe have merged into a single issue
Katsanidou, A. & Otjes, S. (2015) “Mapping the Greek party system after the 2015 elections: how the economy and Europe have merged into a single issue“, LSE EUROPP, 25 Φεβρουαρίου. The Greek government is still attempting to negotiate a long-term solution to the country’s debt problem, but what are the lasting implications of the 2015 Greek parliamentary elections for politics in Greece? Alexia Katsanidou and Simon Otjes present a …Read More