Wren-Lewis, S. (2015) “Greece and primary surpluses“, Mainly Macro Blog, 24 Φεβρουαρίου. In my simple guide to the current macroeconomic position of Greece, I said that a major mistake made by the Troika was to insist on a pace of fiscal adjustment that was far too fast. It led to a collapse in the economy. Of course a collapse in the economy itself raises the deficit. So people who …Read More
What is a ‘responsible’ fiscal policy today for Europe?
Buti, Μ. & Carnot, Ν. (2015) “What is a ‘responsible’ fiscal policy today for Europe?“, VoxEU Organisation, 24 Φεβρουαρίου. In an uncertain world, fiscal policy must be robust to a range of models. This column introduces a rule of thumb governing fiscal expansion that is consistent for a group of countries, and for each country individually. Applying this rule to the Eurozone recommends overall fiscal neutrality, with moderate consolidation …Read More
The Intersection of Three Crises
Bhalla, R. (2015) “The Intersection of Three Crises“, STRATFOR Geopolitical Weekly, 24 Φεβρουαρίου. Within the past two weeks, a temporary deal to keep Greece in the eurozone was reached in Brussels, a cease-fire roadmap was agreed to in Minsk and Iranian negotiators advanced a potential nuclear deal in Geneva. Squadrons of diplomats have forestalled one geopolitical crisis after another. Yet it would be premature, even reckless, to assume that the …Read More
Why We Need A Welfare Union In Europe
Boeri, Τ. (2015) “Why We Need A Welfare Union In Europe“, Social Europe Journal, 23 Φεβρουαρίου. Are Europe’s welfare states fit to meet the demands brought on by the financial crisis? In an interview with EUROPP’s Managing Editor Stuart Brown, Tito Boeri discusses the need for a ‘stress test’ of the European welfare state, why citizens in southern European countries have been much more susceptible to poverty during the crisis, and …Read More
Reading The Greek Deal Correctly
Galbraith, J. (2015) “Reading The Greek Deal Correctly“, Social Europe Journal, 23 Φεβρουαρίου. On Friday as news of the Brussels deal came through, Germany claimed victory and it is no surprise that most of the working press bought the claim. They have high authorities to quote and to rely on. Thus from London The Independent reported: several analysts agreed that the results of the talks amounted to a humiliating …Read More
Why participatory governance offers a realistic route to addressing the EU’s legitimacy crisis
Oskar Lindgren, K. (2015) “Why participatory governance offers a realistic route to addressing the EU’s legitimacy crisis, LSE EUROPP, 24 Φεβρουαρίου. How can EU decision-making be brought closer to Europe’s citizens? Based on a case study of the ‘REACH’ regulation governing the production and use of chemical substances, Karl-Oskar Lindgren writes on the potential for a participatory governance approach to increase the EU’s legitimacy by enhancing the capacity for …Read More
Tax progressivity and the government’s ability to collect additional tax revenue
Holter, H., Krueger, D. & Stepanchuk, S. (2015) “Tax progressivity and the government’s ability to collect additional tax revenue“, VoxEU Organisation, 20 Φεβρουαρίου. Since the Global Crisis, debt sustainability has received increasing attention. This column argues that the maximum sustainable debt level depends negatively on the progressivity of the tax system. The authors estimate that the US is still relatively far from the peak of its Laffer curve and …Read More
What Germany Owes Greece
Crook, C. (2015) “What Germany Owes Greece“, BloombergView, 19 Φεβρουαρίου. How much does it matter, if at all, that Greece’s demand for a new bailout program with softer terms is being pressed by a new government, elected for that very purpose — a government that retains solid support even as its standoff with other European Union governments drags on? How much does democracy matter in a situation like this? …Read More
Who’s Extorting Whom? It’s All About Coercion
Weisbrot, M. (2015) “Who’s Extorting Whom? It’s All About Coercion“, The Huffington Post, 17 Φεβρουαρίου. The Economist‘s Feb. 6 cover displayed the Venus de Milo statue pointing a revolver, with the headline “Go ahead, Angela, make my day.” In the editors’ upside-down world, Greece is threatening Europe, or at least Germany. Really? On Monday, Feb. 16, European officials “handed Athens an ultimatum: Agree by Friday to continue with a …Read More
Which Side Are You On, Jeroen Dijsselbloem?
Lizoain, D. (2015) “Which Side Are You On, Jeroen Dijsselbloem?“, Social Europe Journal, 18 Φεβρουαρίου. Just over a hundred years have passed since the greatest failure of European social democracy. The workers’ movement was unable to halt the needless slaughter of World War I. First, Jean Jaures was assassinated, silencing his powerful anti-militarist voice. Soon after, the German SPD voted to authorize war credits for the Kaiser. Proletarian internationalism …Read More