debating progressive politics in Europe and beyond
The economic and social consequences of lopsided policies focussed on lowering expenditure are fatal. Europe is threatening to fall apart as a result. Instead of the European crisis easing, it has worsened over the past two years and the credit risks which Germany is shouldering have not shrunk, but have grown significantly. The crisis from which [...]
Sunday the 6th of May 2012 might become a significant date in European politics. The Greek election results and above all the election of Francois Hollande as new French President might be the start of political change in Europe. I (and others on SEJ) have argued for a long time that the Angela Merkel driven European [...]
We are not quite in silly season yet but last week British newspapers reported the ‘barmy’ EU ruling that has prevented an award winning Kent vineyard from calling its Malbec, ‘wine’. Instead it is being forced to re-label the bottles as ‘fruit-based alcoholic beverage’. I have no idea if there is any truth in the [...]
On the face of it the Euro-Zone crisis will have served as a great boost for British Eurosceptics. They, and their supportive London media, can now argue that the original decision of the British government to stay out of the Euro-Zone has been vindicated. They can also argue that Britain’s best interests are served by [...]
Back from travel! (But more crazy travel next week) So, the euro crisis is risk on again. And this time it’s centered on Spain — which in a way is a good thing, because now the essential craziness of the orthodox German-inspired diagnosis of the crisis is on full display. For this is really, really [...]
Since last November, the European Central Bank, under its new president, Mario Draghi, has reduced its policy rates and undertaken two injections of more than €1 trillion of liquidity into the eurozone banking system. This led to a temporary reduction in the financial strains confronting the debt endangered countries on the eurozone’s periphery (Greece, Spain, [...]
Last December, with Europe’s financial system on the brink of disaster, the European Central Bank stunned the markets with an unprecedented intervention, offering banks across the eurozone essentially unlimited liquidity against any and all collateral for an exceptional period of three years. The ECB’s surprise liquidity operation put the continent’s crisis on hold. But now, [...]
Far from abating, the euro crisis has taken a turn for the worse in recent months. The European Central Bank managed to relieve an incipient credit crunch through its long-term refinancing operation (LTRO), which lent over a trillion euros to eurozone banks at one percent. This brought considerable relief to financial markets, and the resulting [...]
Luis de Guindos, Spain’s new economy minister, went to Germany and committed to meeting the deficit targets laid out by the Eurogroup. Meeting the targets, claimed de Guindos (as have so many others), is key to regaining confidence. I’d like to point out two things in this post. First, don’t expect Spain to meet its deficit targets. [...]
In spite – or rather because – of a series of austerity packages and a constitutional “debt brake”, the exercise of squaring the circle is going to collapse in Spain. In the environment of a contracting economy (latest forecast -1.7 %), monthly new unemployment records (February: 23.6 %, youth unemployment 50.5 %) and a deepening [...]
The negotiations between Iran and the five permanent members of the United Nations Security Council, plus Germany, over Iran’s nuclear program are entering a new, and probably decisive, stage. The negotiations have been going on for almost a decade, with long interruptions, and whether a breakthrough will come this time is anyone’s guess. But the [...]
Another melancholy look back at 2011. It brought Germany strong growth, rising employment, falling unemployment and lower national deficits. It could have been called a good year had it not also been the year when the Euro started to falter. Thus in 2012 we will either come up against the brick wall of a failed [...]
SocialEurope Journal: SEJ Article: A Breakthrough Opportunity for Global Health http://t.co/VYXi6Wag SocialEurope Journal: SEJ Article: When Neo-Liberals drop their Mask http://t.co/saAJbUZH SocialEurope Journal: SEJ Article: At least nine EU countries in recession: stimulus urgently needed http://t.co/oNN0v98l SocialEurope Journal: SEJ Article: European Monetary Union: Doomed to fail or just another Stepping Stone? http://t.co/pMuqDvkA SocialEurope Journal: SEJ Article: Creating Jobs in recession-hit Communities in Europe: Why Microcredit will not help http://t.co/zJb4XxJl SocialEurope Journal: SEJ Article: German State Elections send Merkel an Economic Message http://t.co/yVG4Xr5n SocialEurope Journal: SEJ Article: Two dangerous Myths about a 'Grexit' http://t.co/vOhdnVIp SocialEurope Journal: SEJ Article: Finding a Way out of the Crisis – Growth and Employment in Europe http://t.co/Q8JhRRSg 
All Content
Follow US on Social Media