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Trends in European real exchange rates

Berka, Martin, Devereux, Michael B., (2013), “Trends in European real exchange rates” , Economic Policy, Vol. 28, Issue 74, p.p. 193-242. We study a newly created panel data set of relative prices for a large number of consumer goods among 31 European countries over a 15-year period. The data set includes eurozone members both before and after the inception of the euro, floating exchange rate countries of Western Europe, and …Read More

Η Ελληνική Οικονομία-1/2013

ΙΟΒΕ, (2013), Η Ελληνική Οικονομία-1/2013, Αθήνα. Το ΙΟΒΕ στην τελευταία του Τριμηνιαία Έκθεση, διέβλεπε για το 2013 προοπτικές ανάκαμψης της Οικονομίας, υπογράμμιζε όμως ως εξίσου σημαντικό ζητούμενο την αποφυγή κάθε αισθήματος εφησυχασμού. Οι πρώτες 10 εβδομάδες του πρώτου τριμήνου, επεφύλασσαν για την Ελλάδα ακριβώς το παραπάνω μείγμα θετικών οικονομικών εξελίξεων αλλά και στοιχείων προβληματισμού.

On the Franco-German Euro Contradiction and Ultimate Euro Battleground

Bibow, Jorg, (2013), “On the Franco-German Euro Contradiction and Ultimate Euro Battleground” , Levy Economics Institute of Bard College, Working Paper, N.762. Highlighting that France and Germany held largely contradicting hopes and aspirations for Europe’s common currency, this paper analyzes how the resulting euro contradiction conditioned the ongoing euro crisis as well as current strategies to resolve it. While Germany generally prevailed in hammering out the design of the euro policy …Read More

The Meaning of Cyprus: Moving towards banking union?

Gros, Daniel, (2013), “The Meaning of Cyprus: Moving towards banking union?” CEPS, 8  Απριλίου. While acknowledging that Cyprus is too small to matter for global financial markets, this Commentary finds that its case could turn out to become a very important precedent for the way European policy-makers deal with future banking problems and the plans for a ‘banking union’.

How the EZ crisis is permanently changing EU institutions

Micossi, Stefano, (2013), “How the EZ crisis is permanently changing EU institutions”, The Centre for Economic Policy Research, Policy Insight, N. 65. The Eurozone crisis has elicited oceans of comment and analysis related to crisis management. Much less noticed is the crisis’ deep impact on EU institutions. A series of decisions taken at crisis summits massively centralised EU executive power over national economic policymaking. These decisions also shifted the institutional …Read More

Privatizations and Long Run Growth: Doing it Right?

Ioannides, Yannis, (2013), “Privatizations and Long Run Growth: Doing it Right?”, greekeconomistsforreform.com, 7 Απριλίου. Yannis Ioannides, in a presentation at McGill University, Montreal, on April 4, 2013, discussed the issue of privatizations in Greece, as part of the stabilization program and Greece’s agreements with the Troika. Massive privatizations were put on the agenda of negotiations with the lenders, perhaps as a way to make assistance to Greece more palatable to …Read More

A banking union for the Eurozone

Dell’ Ariccia, Giovanni, Goyal, Rishi, Koeva-Brooks, Petya, Tressel, Thierry, (2013) “A banking union for the Eurozone”, www.voxeu.org , 5 Απριλίου. The crisis has highlighted the need for, and difficulties with, a Eurozone banking union. This column argues that, to make a union, you need three crucial ingredients: common supervision, a single resolution mechanism, and common safety nets. The power to control and the resources to rescue must work in parallel. …Read More

Europe’s Political Stress Tests

Mueller , Jan-Werner, (2013),  “Europe’s Political Stress Tests” , www.project-syndicate.org, 4 Απριλίου. In recent years, the European Union – or, more accurately, the powerful countries of northern Europe – has been subjecting its weaker members to social and political “stress tests” in the name of fiscal rectitude. As a result, southern Europe and parts of Eastern Europe have become a kind of political laboratory, with experiments producing strikingly varied – …Read More

The Euro Crisis after Cyprus: What We Have Learned

Aslund, Anders, (2013), “The Euro Crisis after Cyprus: What We Have Learned”, The Peterson Institute for International Economics, 3 Απριλίου. Just as suddenly as it arose, the Cyprus financial crisis has passed by. The banks have opened and so has the stock market without undue panic. A few steps remain in the euro crisis, but this crisis is abating, and however messily Europe has handled it. Today, the questions are what …Read More

The EU’s Rubik’s cube: Who will lead after 2014

Brady, Hugo, (2013), “The EU’s Rubik’s cube: Who will lead after 2014?”, Centre for European Reform, 3 Απριλίου. Next year, EU leaders will decide who will succeed Herman Van Rompuy, José Manuel Barroso and Catherine Ashton as, respectively, the next president of the European Council, president of the European Commission and high representative for foreign affairs. These (no doubt) excruciating deliberations will begin in earnest after the European Parliament (EP) …Read More