Hausmann, R. (2014) “The Real Raw Material of Wealth“, Project Syndicate, 26 Ιουλίου. Poor countries export raw materials such as cocoa, iron ore, and raw diamonds. Rich countries export – often to those same poor countries – more complex products such as chocolate, cars, and jewels. If poor countries want to get rich, they should stop exporting their resources in raw form and concentrate on adding value to them. …Read More
What Does the 1930s’ Experience Tell Us about the Future of the Eurozone?
Crafts, N. (2014) “What Does the 1930s’ Experience Tell Us about the Future of the Eurozone?“. JCMS: Journal of Common Market Studies, 52: 713–727, Ιούλιος. If the eurozone follows the precedent of the 1930s, it will not survive. The attractions of escaping from the gold standard then were massive and they point to a strategy of devalue and default for today’s crisis countries. A fully federal Europe with a banking …Read More
Ελληνική Οικονομία – Εβδομαδιαίο Δελτίο Οικονομικών Εξελίξεων
Alpha Bank (2014) “Ελληνική Οικονομία – Εβδομαδιαίο Δελτίο Οικονομικών Εξελίξεων“, Διεύθυνση Οικονομικών Μελετών, 25 Ιουλίου. Το Σχέδιο Αναδιάρθρωσης της AlphaBank εγκρίθηκε από την Ευρωπαϊκή Επιτροπή: Στον τομέα της συνεχιζόμενης διαδικασίας για την αποκατάσταση της κεφαλαιακής βάσης, την αναγκαία αναδιάρθρωση και, τελικά, για την αποκατάστασης της ομαλής λειτουργίας του τραπεζικού συστήματος της χώρας, επισημαίνεται η έγκαιρη έγκριση από την Ευρωπαϊκή Επιτροπή (Γενική Διεύθυνση Ανταγωνισμού) την 9η Ιουλίου 2014 του Σχεδίου …Read More
When arm’s length is too far
Beck, Τ., Degryse, H., De Haas, R. & Van Horen, N. (2014) “When arm’s length is too far“, VoxEU Organisation, 25 Ιουλίου. The small and medium-size enterprises (SMEs) were among the most severely affected in the Global Crisis. This column discusses new evidence on how different lending techniques affect lending in bad and good times. Data from 21 countries in central and eastern Europe show that ‘relationship lending’ alleviates …Read More
World Economic Outlook, An Uneven Global Recovery Continues
International Monetary Fund (2014) “World Economic Outlook, An Uneven Global Recovery Continues“, WEO Update, Ιούλιος. The global growth projection for 2014 has been marked down by 0.3 percent to 3.4 percent, reflecting both the legacy of the weak first quarter, particularly in the United States, and a less optimistic outlook for several emerging markets. With somewhat stronger growth expected in some advanced economies next year, the global growth projection …Read More
Progress Towards External Adjustment in the Euro Area Periphery and the Baltics
Shik Kang, J. & Shambaugh C., J. (2014) “Progress Towards External Adjustment in the Euro Area Periphery and the Baltics“, Working Paper No.14/131, International Monetary Fund, 22 Ιουλίου. The euro area periphery countries and the Baltic countries, which had large current account deficits in the run-up to the crisis, needed adjustment of relative prices to achieve both internal and external balances. Thus far, tangible progress has been made through …Read More
Lithuania changes the ECB’s voting system – membership threshold triggers change in the ECB’s Governing Council’s voting system
Merler, S. (2014) “Lithuania changes the ECB’s voting system – membership threshold triggers change in the ECB’s Governing Council’s voting system, which starts rotating“, Bruegel Institute, 25 Ιουλίου. Lithuania will become the 19th member of the Euro area on the 1st of January, following Wednesday’s Council endorsement. The most important part of the story – however – is not that someone is still brave enough to join the Euro …Read More
It would be dangerous to view modern European populism as a triumph of style over substance
Wodak, R. (2014) “It would be dangerous to view modern European populism as a triumph of style over substance“, LSE EUROPP, 23 Ιουλίου. The success of populist and Eurosceptic parties was one of the key narratives to emerge from the European Parliament elections in May. Ruth Wodak writes on the platforms which underpin these parties, noting that there is no one-size-fits-all explanation for why parties have gained ground in …Read More
Έβδομη Έκθεση Δραστηριοτήτων (Περίοδος Αναφοράς: Φεβρουάριος-Μάιος 2014)
Ομάδα Δράσης για την Ελλάδα (2014) “Έβδομη Έκθεση Δραστηριοτήτων (Περίοδος Αναφοράς: Φεβρουάριος-Μάιος 2014)“, Ιούλιος 2014. Η Ομάδα Δράσης για την Ελλάδα (ΟΔΕ) διοργανώνει και συντονίζει την τεχνική βοήθεια (ΤΒ) που ζήτησαν οι ελληνικές αρχές στην προσπάθειά τους να υλοποιήσουν τις δεσμεύσεις για τη θέσπιση μεταρρυθμίσεων στο πλαίσιο του προγράμματος οικονομικής προσαρμογής. Η ΟΔΕ εργάζεται επίσης για την επιτάχυνση της απορρόφησης των κονδυλίων των Διαρθρωτικών Ταμείων της ΕΕ, συμπεριλαμβανομένης της …Read More
The EU and an independent Scotland
CER (2014) “The EU and an independent Scotland“, Centre for European Reform Blog, 23 Ιουλίου. Scots living in Scotland vote on September 18th on whether to end their 300-year union with England. If they win, the nationalists aim for actual independence, and full EU membership, in March 2016. Opinion polls currently show a lead for the pro-Union side, but 15 or 20 per cent remain undecided. The debate is …Read More