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We Need a New Grand Bargain in Europe

Tsoukalis, Loukas, (2013), “We Need a New Grand Bargain in Europe”, ΖΙΒ 01/2013, June. This article examines the linkages between economics and politics, markets and institutions during the most serious crisis that has hit Europe for decades. With the bursting of a big international financial bubble at its origin, it has exposed a systemic failure in the euro area coupled with different national failures. Many unthinkables have become reality since …Read More

Europe’s Troika Should Grow Up

Pisani-Ferry, Jean, (2013) “Europe’s Troika Should Grow Up”,, 27 May 2013. In early 2010, a group of men (and a few women) in dark suits landed in Athens. They belonged to a global institution, the International Monetary Fund, and to a pair of regional ones, the European Commission and the European Central Bank. Their mission was to negotiate the terms and conditions of a financial bailout of Greece. A …Read More

Propping up teetering Europe necessary for China’s own interests

Tzogopoulos, George (2013), “Propping up teetering Europe necessary for China’s own interests”, Global Times, 16 May. The European debt crisis is a significant challenge for China. There’s the risk for Beijing’s export-dependent economy and the threat to China’s attempt to achieve a successful diversification of its currency reserves. But perhaps the most important problem is that a potential disintegration of the European common currency area might have dramatic consequences on …Read More

The continent-wide rise of Euroscepticism

Torreblanca, Jose Ignacio and Leonard, Mark, (2013), “The continent-wide rise of Euroscepticism”, European Council on Foreign Relations, 16 May. Euroscepticism has spread across the continent like a virus. It is striking that everyone in the EU has been losing faith in the European project: both creditors and debtors, eurozone countries, would- be members and “opt-outs”. So what is going on? In ECFR’s new policy memo – The continent – wide …Read More

Democracy, Solidarity And The European Crisis

Habermas, Jürgen, (2013), “Democracy, Solidarity And The European Crisis”, Social Europe Journal, 7 May. The European Union owes its existence to the efforts of political elites who could count on the passive consent of their more or less indifferent populations as long as the peoples could regard the Union as also being in their economic interests, all things considered. The Union has legitimized itself in the eyes of the citizens …Read More

Did the euro kill governance in the periphery

Villaverde, Jesus Fernandez, Garikano, Luis, Santos, Tano, (2013), “Did the euro kill governance in the periphery” ,, 30 April. By the end of the 1990s, under the incentive of Eurozone entry, most peripheral European countries were busy undertaking structural reforms and putting their fiscal houses in order. This column argues that the arrival of the euro, and the subsequent interest-rate convergence, loosened a tide of cheap money that reversed …Read More

Is the euro crisis responsible for populism?

Barysch, Katinka, (2013), “Is the euro crisis responsible for populism?” , Centre for European Reform, 19 April. Populists and extremists are on the rise across Europe. Even Germany is now seeing the rise of a eurosceptic party. The euro crisis is the reason for growing political risk in the eurozone. Or is it? True, populist parties are more important in several euro countries. But the reasons for this are manifold …Read More

Europe poised between union and hegemony

Carras, Costas, (2013), “Europe poised between union and hegemony”, Open Democracy – Free Thinking for the World. French and German overriding of the European Commission over the Stability Pact can be seen, ten years later, to have been disastrous. A vision more powerful, more engaging, more profound than “common interest” is now required if Europe is to survive, and divided Cyprus is a test case.

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

Europe’s Political Stress Tests

Mueller , Jan-Werner, (2013),  “Europe’s Political Stress Tests” ,, 4 April. 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