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Cyprus: The next blunder

Wyplosz, Charles, (2013), ‘Cyprus: The next blunder’, www.voxeu.org,  18 March. The Cyprus bailout package contains a tax on bank deposits. This column argues that the tax is a deeply dangerous policy that creates a new situation, more perilous than ever. It is a radical change that potentially undermines a perfectly reasonable deposit guarantee and the euro itself. Historians will one day explore the dark political motives behind this move. Meanwhile, we …Read More

What is Italy Saying?

Stiglitz, Joseph E., (2013), “What is Italy Saying?”,  www.project-syndicate.org, 4 March. The outcome of the Italian elections should send a clear message to Europe’s leaders: the austerity policies that they have pursued are being rejected by voters. The European project, as idealistic as it was, was always a top-down endeavor. But it is another matter altogether to encourage technocrats to run countries, seemingly circumventing democratic processes, and foist upon them …Read More

The Europe barometer points to stormy weather

Lannoo, Karel, (2013), “The Europe barometer points to stormy weather”, The Centre for European Policy Studies, 17 February. Against the current background of a sharp decline in public support for the EU and an emerging reinforced centre to manage the euro crisis, this commentary finds that the only way Europe’s leaders can hope to keep the fragile equilibrium afloat is to summon up the courage to go forward with concrete …Read More

Europe’s Debt Crisis Endgames—Stealth Solutions

Satyajit, Das, (2013), ‘Europe’s Debt Crisis Endgames—Stealth Solutions’, www.economonitor.com, 24 January. In his novella Chronicle of a Death Foretold (Crónica de Una Muerte Anunciada in the original Spanish), Gabriel Garcia Marquez commences at the end of the story gradually revealing the events leading up to a murder. The non-linear telling creates an unusual tension. With the conclusion known, only the precise steps leading to the tragedy remain unclear. The probable endgame of Europe’s …Read More

The Year Ahead in the Eurozone: Lower Risks, Same Problems

Roubini, Ariel, (2013), ‘The Year Ahead in the Eurozone: Lower Risks, Same Problems’, www.economonitor.com, 14 January. Financial conditions in the eurozone have significantly improved since the summer, when eurozone risks peaked because of German policymakers’ open consideration of a Greek exit, and the sovereign spreads of Italy and Spain reached new heights.

The Upside of the Euro Crisis

Vaisse, Justin, (2012), ‘The Upside of the Euro Crisis’, www.brookings.edu, 28 November. Since the beginning of the European debt crisis, most economists have focused on the potential consequences of a breakup of the euro zone. It’s easy to understand why. Although unlikely, a euro-zone breakup would be a potentially cataclysmic event that would leave the world economy in tatters.  

Reforming the EU budget in times of crisis

Bertoncini, Yves, (2012), ‘Reforming the EU budget in times of crisis’, Notre Europe – Jacques Delors Institute, 15 November. This tribune by Yves Bertoncini underlines the main issues at stake in the perspective of the extraordinary European Council which is to take key decisions on the EU budget for the post 2013 period. It is based on three series of remarks: – one on the crisis, which has to be …Read More

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 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.