Roth, Felix, Jonung, Lars, Nowak-Lehmann, Felicitas, (2012), ‘Crisis and public support for the euro’, 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
Financial Crises in Iceland and Ireland: Does European Union and Euro Membership Matter?
Thorhallsson, Baldur, Kirby, Peadar, (2012),‘Financial Crises in Iceland and Ireland: Does European Union and Euro Membership Matter?’, Journal of Common Market Studies, Vol. 50, Issue 5,p.p. 801–818. The article examines the claims of the small states literature on the importance of alliance formation. It applies it to the case of Ireland and Iceland and asks whether membership of the EU and euro in Ireland and the absence of these in …Read More
Macroeconomic Imbalances as Indicators for Debt Crises in Europe
Knedlik, Tobias, Von Sshweinit, Gregor, (2012),‘Macroeconomic Imbalances as Indicators for Debt Crises in Europe’, Journal of Common Market Studies, Vol.50, Issue 5, p.p.726–745. European authorities and scholars published proposals on which indicators of macroeconomic imbalances might be used to uncover risks for the sustainability of public debt in the European Union. In this article the ability of four proposed sets of indicators to send early warnings of debt crises is …Read More
Mispricing of Sovereign Risk and Macroeconomic Stability in the Eurozone
De Grauwe, Paul, (2012),‘Mispricing of Sovereign Risk and Macroeconomic Stability in the Eurozone’, Journal of Common Market Studies, Vol. 50, Issue 6, p.p.866–880. The economic and financial crisis and its aftermath have put economic and monetary union (EMU) to the test and exposed gaps in its initial policy architecture. Collective rules of fiscal discipline have proven difficult fully to enforce and excessive public indebtedness has been confirmed as a potential …Read More
The EMU Debt Crisis: Early Lessons and Reforms
Buti, Marco, Carnot, Nicolas (2012), ‘The EMU Debt Crisis: Early Lessons and Reforms’, Journal of Common Market Studies, Vol. 50, Issue 6, p.p. 881-898. The economic and financial crisis and its aftermath have put economic and monetary union (EMU) to the test and exposed gaps in its initial policy architecture. Collective rules of fiscal discipline have proven difficult fully to enforce and excessive public indebtedness has been confirmed as a …Read More
The Interplay of Economic Reforms and Monetary Policy: The Case of the Eurozone
Drudi, Francesco, Durre, Alain, Paolo Mongelli, Francesco, (2012),‘The Interplay of Economic Reforms and Monetary Policy: The Case of the Eurozone’, Journal of Common Market Studies, Vol. 50, Issue 6, p.p. 881–898. The world has been struck by a mutating systemic financial crisis that is unprecedented in terms of financial losses and fiscal costs, geographic reach, and speed and synchronization. The crisis from August 2007 to date can be divided into …Read More
An optimistic case for the Euro
Feldstein, Martin, (2012), ‘An optimistic case for the Euro’, www.project-syndicate.org, 30 October. The prospects for the euro and the eurozone remain uncertain. But recent events at the European Central Bank, in Germany, and in global financial markets, make it worthwhile to consider a favorable scenario for the common currency’s future.
How would Portugal have fared in the past decade under the debt rule?
Capone-Parisi, Elisa, (2012), ‘How would Portugal have fared in the past decade under the debt rule?’, www.economonitor.com, 29 October. Portugal was the second country (after Greece) to ratify the fiscal compact treaty (together with the ESM). The fiscal compact will be implemented under the auspices of the European Court of Justice which will monitor the national rule’s compliance with the treaty.
Greek haircuts and Greek myths — the detail
McDermott, John, (2011), ‘Greek haircuts and Greek myths — the detail’, ftalphaville.ft.com, 22 October. European leaders on Friday received some interesting weekend reading.FT Alphaville has also taken a look at “Greece: Debt Sustainability Analysis”, an assessment prepared by European Commission economists for discussion on Friday among European finance ministers. We’ve put it in the usual place.
Current Prospects for the Greek Economy
Levy Economics Institute of Bard College, (2012), Current Prospects for the Greek Economy, New York.