Steinbock, Dan, (2012), ‘Why a Greek Lifeline Is the Lesser Evil’, www.economonitor.com, 15 November. Despite recent elusive gains, the Eurozone is teetering closer to the periphery cliff. The impending Greek default is forcing Germany, France, Brussels, ECB and IMF to unite – for the sake of Spain and Italy.
Europe Could Still Blow Up, Let’s Not Be Complacent
Elliott, Douglas, (2012), ‘Europe Could Still Blow Up, Let’s Not Be Complacent’, www.brookings.edu, 13 Νovember. European leaders, and their suffering peoples, are clearly making real progress in working through the Euro Crisis. However, some observers have lapsed into complacency, assuming that the worst is definitely over. I hope they are right, but there are many ways in which the situation could blow up and become worse than ever. I am willing …Read More
The Greek debt trap: an escape plan
Darvas, Zsolt, (2012), ‘The Greek debt trap: an escape plan’, www.bruegel.org, 9 November. Without corrective measures, Greek public debt will exceed 190 percent of GDP, instead of peaking at the anyway too-high target ratio of 167 percent of GDP of the March 2012 financial assistance programme. The rise is largely due to a negative feedback loop between high public debt and the collapse in GDP, and endangers Greek membership of …Read More
Macroeconomic Imbalance Scoreboard – A Visual Ranking Among 11 EZ Countries
Capone-Parisi, Elisa, (2012), ‘Macroeconomic Imbalance Scoreboard – A Visual Ranking Among 11 EZ Countries’, www.economonitor.com, 9 November. According to the EU Commission’s website, the Macroeconomic Imbalance Procedure (MIP) is a surveillance mechanism that aims to prevent and correct macroeconomic imbalances within the EU. It relies on an alert system that uses a scoreboard of indicators and in-depth country studies, strict rules in the form of a new Excessive Imbalance Procedure (EIP) …Read More
Between Collateral Damage and ‘Iron Law’
Emmanouilidis, Janis, (2012), ‘Between Collateral Damage and ‘Iron Law’’, Greek Political Science Review, Issue 39, May-November. The article argues that the euro crisis has put European integration to a major test – more profound and more serious than ever before. Beyond the more immediate financial and economic effects, the crisis has inflicted collateral damage: unintended and unexpected consequences at both the national and European level, which could jeopardise not only the EU’s …Read More
Le choc de la nouvelle? Maastricht, dé jà vu and EMU reform
Featherstone, Kevin, (2012), ‘Le choc de la nouvelle? Maastricht, dé jà vu and EMU reform’, Greek Political Science Review, Issue 39, May-November. The Maastricht legacy casts a long shadow on current reform efforts to stabilize the Eurozone or, worse, avoid its break-up. The initial agreement was vulnerable on two fronts, the absence of economic governance and a lack of cross national-solidarity that would have supported burden-sharing the EMU. The sovereign …Read More
Does an Austere Europe have a future?
O’Sullivan, Michael, (2012), ‘Does an Austere Europe have a future?’, Greek Political Science Review, Issue 39, May-November. The euro-zone crisis is a profoundly structural one in that it has unmasked the inappropriateness of the monetary union for certain member states and the complacency of its governing class. The aims and raison d’être of the European project must now be rethought in an original way and communicated in a clear way …Read More
Can Public Private Partnerships (PPPs) lever investment to get Europe out of economic crisis?
Dheret, Claire, Martens, Hans, Zuleeg Fabian, (2012), ‘Can Public Private Partnerships (PPPs) lever investment to get Europe out of economic crisis?’, EPC Issue Paper, N.71. To overcome Europe’s deep economic crisis, investment is crucial. But with public finances under severe strain and a limited EU budget, private-sector investment will have to be a key driving force. This report produced by the European Policy Centre focuses on analysing stakeholders’ perceptions of the …Read More
The Eurozone breakup debate: Uncertainty still reigns
Nordvig, Jens, (2012), “The Eurozone breakup debate: Uncertainty still reigns”, www.voxeu.org, 6 November. Conversations about the breakup of the Eurozone are changing. This column argues that an ‘avoid breakup at all costs’ dogmatism may not be a prudent view. Getting good data may well be difficult, but any arguments about the cost of a Eurozone breakup must be compared to the ongoing cost of the status quo.
Crisis and public support for the eurο
Roth, Felix, Jonung, Lars, Nowak-Lehmann, Felicitas, (2012), ‘Crisis and public support for the eurο’, www.voxeu.org, 5 November. The Eurozone crisis has meant slow growth, rising unemployment, and social unrest. This column gauges the impact of all this on European citizens‘ opinions about the euro and EU institutions. Using Eurobarometer surveys, the authors find that, within the Eurozone, the crisis has only marginally lowered support for the euro but has led to …Read More