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Europe’s ‘structural reform’ agenda is little more than a fairytale

Regan, A., (2014), “Europe’s ‘structural reform’ agenda is little more than a fairytale”, LSE Blogs, 21 January. The policy response to the Eurozone crisis has incorporated a number of different elements, including the structural reform of European economies. Aidan Regan argues that this ‘structural reform agenda’ has been defined in exceptionally vague terms, and that it is still unclear precisely which reforms would lead to tangible economic improvements in European …Read More

Why has Europe’s economy done worse than the US?

Weisbrot, M., (2014),“Why has Europe’s economy done worse than the US?”, The Guardian, 16 January. The eurozone experience shows what can happen when people lose control over their government’s economic policies. Relevant Posts De Grauwe, P. and Ji, Y., (2013), “The Legacy of Austerity in the Eurozone”, Centre for European Policy Studies, 04 October. Oxfam, (2013), “A Cautionary Tale: The true cost of austerity and inequality in Europe”, Oxfam Briefing …Read More

Powering European Sector Innovation: Towards a New Architecture

European Commission, (2013), “Powering European Sector Innovation: Towards a New Architecture”, Report of the Expert Group on Public Sector Innovation. In the midst of a fragile economic recovery across the European continent and stressed public finances, many governments are faced with long-term issues such as ageing societies, mounting social security and healthcare costs, high youth unemployment and an outdated public service infrastructure that lags behind the needs of modern citizens …Read More

The systemic nature of the EU crisis: reflections on a deepening issue

Esposito, M., (2013), “The systemic nature of the EU crisis: reflections on a deepening issue”, Euro Crisis in the Press Blog, London School of Economics, 02 January.  The Eurozone has entered its fourth year of crisis and 2013 has been a challenging year for a large number of Member States, who have been falling into severe debt, requesting bailouts tied to crippling austerity measures. If we thought the issue was …Read More

Which financial instrument to facilitate structural reforms in the euro area?

Rubio, E., (2013), “Which financial instrument to facilitate structural reforms in the euro area?”, Notre Europe – Jacques Delors Institute, Policy Paper No.104, December. The idea of creating contractual arrangements to facilitate structural reforms in the euro area starts to take shape. This policy paper by Eulalia Rubio provides some thoughts on this proposal and, more generally, on the rationale for setting up an incentive tool to facilitate reforms in the euro …Read More

A Eurozone Report Card 2013

Weeks, J., (2013), “A Eurozone Report Card 2013”, Social Europe Journal, 23 December. Three and one-half years ago the infamous Troika (IMF, European Commission and the European Central Bank, with the German government in close attendance) began its unsuccessful attempt to contain the crisis of the Eurozone, with a draconian austerity program for Greece. Subsequently, the Troika would add Ireland, Italy, Portugal and Spain to its list for the austerity …Read More

Rescuing Europe from the Ground Up

Sinn, H.W., (2013), “Rescuing Europe from the Ground Up”, Project Syndicate, 21 December. The European Union has earned its place as an instrument for peace in Europe. Free trade has brought prosperity to its peoples, and the freedom to choose a place of residence guards against the resurgence of totalitarian regimes. The Acquis Communautaire protects all member states’ citizens under the rule of law. Anyone who doubts the existence of …Read More

A New Growth Bloc Against Germany’s Flawed Leadership

Hill, S., (2013), “A New Growth Bloc Against Germany’s Flawed Leadership”, Social Europe Journal, 17 December. What does the German Grand Coalition have to offer Europe? Not much. I have been carefully reading and weighing all the commentary regarding Germany’s Große Koalition (or GroKo) agreement, and it’s clear that the coalition agreement can be read as a testament to the current state of German political and economic philosophy. Having waited …Read More

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The Re-Division of Europe

Papantoniou, Y., (2013), “The Re-Division of Europe”, Project Syndicate, 06 December. As the eurozone debt crisis has steadily widened the divide between Europe’s stronger northern economies and the weaker, more debt-laden economies in the south (with France a kind of no man’s land economy in between), one question is on everyone’s mind: Can Europe’s monetary union – indeed, the European Union itself – survive? While the eurozone’s northern members enjoy …Read More

Greece’s Reforms Have Only Cracked the Surface

Hatzis, A., (2013), “Greece’s Reforms Have Only Cracked the Surface”, The Wall Street Journal, 05 December. Last week Ángel Gurría, the secretary-general of the Organization for Economic Co-operation and Development, visited Athens to present the OECD’s latest economic survey of Greece. Since 2010, the report said, Greece “has made impressive headway in cutting its fiscal and external imbalances and implementing structural reforms to raise labor market flexibility and improve labor …Read More