Ratnovski, L., Laeven, L. & Tong, H. (2014) “Are banks too large?“, VoxEU Organisation, 31 Μαΐου.   Large banks have grown and become more involved in market-based activities since the late 1990s. This column presents evidence that large banks receive too-big-to-fail subsidies and create systemic risk, whereas economies of scale in banking are modest. Hence, some large banks may be ‘too large’ from a social perspective. Since the optimal bank …Read More

Fischer, J. (2014) “Europe’s Nationalists on the March“, Project Syndicate, 31 Μαΐου.   BERLIN – Europe is made up of its nations, and has been for hundreds of years. That is what makes the continent’s unification such a difficult political task, even today. But nationalism is not Europe’s principle of construction; on the contrary, it has been, and remains, Europe’s principle of deconstruction. That is the main lesson to be …Read More

Mc Donnell, D. (2014) “The minimal rise in turnout in the EP elections shows that voter apathy is still the greatest threat to European democracy“, LSE EUROPP, 31 Μαΐου.   One of the key criticisms of European Parliament elections is that they suffer from low turnout and therefore lack the capacity to genuinely confer democratic legitimacy on the EU’s legislative process. Duncan McDonnell writes that while a concerted effort was …Read More

O’ Sullivan, M. & Panagiotarea, E. (2014) “Europe’s Litmus Test“, Project Syndicate, 30 Μαΐου.   DUBLIN – The European Parliament election is grabbing headlines worldwide, as it highlights a new skepticism in the European politics and raises concerns about the future of the  integration project. But the real litmus test for the European Union is to be found elsewhere – in the health of its smaller economies, especially Greece and …Read More

Hudson, M. (2014) “EU Voters Turn Against Austerity“, Michael Hudson Blog, 29 Μαΐου.   Reflecting on this topic, I add: The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against the super-rich, the oligarchy. The “foreigners” being opposed include the United States insisting on drawing NATO into its wars in Libya,Iraq, Syria and Afghanistan – and now, subsidizing Ukraine …Read More