debating progressive politics in Europe and beyond
That would be the accurate headline in tomorrow’s papers given today’s verdict by Germany’s Constitutional Court. But it is unlikely that any newspaper concerned about its circulation will print it. Whatever the pre-verdict media frenzy, the simple fact is that a verdict from Karlsruhe that would have seriously threatened the introduction of the ESM would [...]
What trade unions across Europe have been warning against is now happening: far from bringing public finances under control, the strategy of European wide austerity is pushing the economy back into recession. While the European Commission, in its latest spring forecast, tries to give this a positive spin by talking of a ‘mild’ recession with [...]
In the United States, political strategists have an expression called the “K-I-S-S Rule,” which is short for “keep it simple, stupid.” As European leaders confront the twin challenges of erecting a United States of Europe and retaining the support of its many peoples who are naturally anxious over such a major change, the K-I-S-S Rule [...]
The unanimous political response to the crisis across Europe today is that of austerity and budgetary discipline. Cutting pay and social welfare, attacking bargaining mechanisms and making employment contracts ultra-flexible: that is the current paradigm, the Berlin/Brussels consensus, offered as the only way forward. This solution is not working and will not work. It stifles [...]
The agreement reached at the European Summit on Friday is deeply deeply flawed. It needed to do three main things: avert recession and boost growth in the short run, and unwind competitive balances and permit fiscal consolidation at decent rates of economic growth in the medium and longer run. (See here for a statement of [...]
At the end of this week, the Heads of State will have another go at trying to agree a ‘comprehensive’ package to address the Euro crisis. On the table is the German-French proposal to write a ‘Fiscal Compact’ imposing strict fiscal discipline onto the European Treaty itself. Just as the previous ‘emergency’ European Councils failed [...]
The financial crisis risks destroying half a century of European integration. It is primarily a political and not an economic crisis and only a different political solution can solve it. The problem is the intergovernmental system of governance: Member states’ governments take decisions jointly, but each government pursues its own partial interests. Hence, political integration [...]
I was away for just over two weeks. A very brief summary of developments in the euro area crisis in the interval would be: On 21 July national and EU policymakers announce a EUR 109 bn program that aimed to rescue Greece once and for all and prevent the contagion spreading to other countries (and [...]
The Eurozone crisis is coming to a head. This column is an open letter to European leaders imploring them to take decisive action this week. Any more delays could mark the end of the Eurozone as we know it. The debt crisis has reached the core of the Eurozone. Italy and Spain are now directly [...]
Now at least I know what the European Union is all about. The President of the European Commission, José Manuel Barroso himself has told us that “we are the village green preservation society”. He was, of course, quoting from the Kinks’ hit of that name. The song also asks God to save Donald Duck and [...]
It is often the case with policy and analytical documents produced by international bodies that the most important things are to be found in the annexes. In the specific case of the conclusions of the European Council of 23/24 March 2011, there are two long annexes. And you can pretty much dispense with the rest. [...]
As heads of state and government meet in Brussels once again to discuss the crisis that won’t go away, they must confront three recent and unequivocal signs that the austerity strategies of the last twelve months are not working. The most obvious is the fall of the Portuguese government. A majority could be obtained in [...]
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