Future of Skills in Europe: Convergence or Polarisation?

17 March, 2014

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Beblavý, M. & Veselkova, Μ. (2014) “Future of Skills in Europe: Convergence or Polarisation?“, Social Welfare Policies, CEPS Working Documents, 27 February. In this Working Paper, based on nearly 20 papers produced by the Centre for European Policy Studies, Slovak Governance Institute and the Conference Board Europe, we examine whether the current trends in the areas of education and skills are pushing the European Union, towards convergence or polarisation. …Read More

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Persistent unemployment poses a substantive threat to democracy in Southern European countries

13 March, 2014

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Muro, D. & Vidal Lorda, G. (2014) “Persistent unemployment poses a substantive threat to democracy in Southern European countries“, London School of Economics and Political Science, 13 March 2014. The purpose of competitive elections is to reward good politicians and punish bad ones, but what happens if elections can no longer fulfil this role? Diego Muro and Guillem Vidal write that developments in Southern European countries since the start of …Read More

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Latvia and Greece: Less is More

11 March, 2014

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Biggs, M. & Mayer, T. (2014) “Latvia and Greece: Less is More“, Economic Policy, CEPS High-Briefs, 12 February 2014 Key Points: Despite considerable differences, there were also many similarities in economic performance between Latvia and Greece before their respective adjustment crises. After the immediate crisis, however, economic activity rebounded sharply in Latvia but continued to contract in Greece. This paper argues that this difference was due primarily to developments in …Read More

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Financing the Real Economy

11 March, 2014

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Canton, E. (2014) “Financing the Real Economy“, ECFIN Economic Brief, Issue 30, February 2014. Introduction In the aftermath of the economic and financial crisis, policymaking became more geared towards structural reforms to support the process of economic recovery, steered at the EU level through the reinforced economic govern-ance. While there areencouraging signs that an economic recovery is underway in Europe, growth pro-spects are modest and further re-forms remain necessary …Read More

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Why The ECJ Should Reject The German Constitutional Court’s Ruling

11 March, 2014

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De Grauwe, P. (2014) “Why the ECJ Should Reject the German Constitutional Court’s Ruling“, Social Europe Journal, 11 March 2014. Despite having a positive effect on the economic situation within the Eurozone, the European Central Bank’s Outright Monetary Transactions (OMT) program has proved controversial, with the German Constitutional Court in Karlsruhe recently deeming it illegal under EU law. Paul De Grauwe argues that the ruling reflects a serious misunderstanding of central banking …Read More

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The Euro at Age 15 — Is it a Reserve Currency Yet?

10 March, 2014

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Horne, P. (2014) “The Euro at Age 15 – Is it a Reserve Currency Yet?”, The European Institute, February 2014. The euro was welcomed at birth on Jan. 1, 1999, as a new financial currency (coins and banknotes were issued three years later) and hoped by its promoters to be an alternative to the dollar, which had reigned as the world’s primary reserve currency since the 1944 Bretton Woods agreement. …Read More

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If Scotland, why not Greece?

10 March, 2014

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Varoufakis, Y. (2014) “If Scotland, why not Greece?“, Yannis Varoufakis Thoughts for the post-2008 World, 10 March Why an independent Scotland should get out of sterling, but Greece should not volunteer to exit the Eurozone Scotland should state its intention to decouple from sterling, once independent, rather than petitioning for a continuation of its subservient role in an asymmetrical sterling union. Or so I argued in the Scottish Times in ‘Scotland …Read More

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Emerging economies respond to market pressure

10 March, 2014

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Bank for International Settlements (BIS), “International Banking and Financial Market Developments”, Quarterly Review, March 2014 The retrenchment from emerging market economies resumed in full force around the turn of the year, as their subdued growth outlook continued to diverge from the optimistic sentiment in mature markets and as US monetary policy reduced the flow of easy money. Investors were also unsettled by signs of economic weakening and growing financial risks …Read More

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What Makes Greece Special?

7 March, 2014

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Gros, N., (2014), “What Makes Greece Special?”, Project Syndicate, 6 March. The euro crisis seems to be largely over. Risk premiums continue to fall across the board, and two countries – Ireland and Portugal – have already exited their adjustment programs. They can now finance themselves in the market, and their economies seem to have started growing again. By contrast, Greece is still having problems fulfilling the goals of its adjustment program and …Read More

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Tectonic shifts – banking union is a long-term process that will dramatically reshape Europe’s financial system

7 March, 2014

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Veron, N., (2014), “Tectonic shifts – banking union is a long-term process that will dramatically reshape Europe’s financial system”, Bruegel, 7 March. On June 29, 2012, the leaders of euro area countries set in motion what is now universally known as European banking union, or the transfer of banking policy from the national to the European level. The first step, the empowerment of the European Central Bank as the new …Read More

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