debating progressive politics in Europe and beyond
Angela Merkel’s European policy has so far not succeeded in solving the Eurozone crisis and has been widely criticised across Europe. If you become the next German Chancellor, what would you change in the German European policy approach? Would you change the current austerity policy that is widely viewed as the main reason for Europe’s [...]
Will the eurozone crisis end in 2013, or will it drag on throughout the year, and perhaps even deteriorate anew? This is likely to be not only the crucial question for the European Union’s further development, but also a key issue affecting the performance of the global economy. While the EU clearly needs internal reforms, [...]
The measures introduced by the European Central Bank last December, especially the Long Term Refinancing Operation (LTRO), have relieved the liquidity problems of European banks, but have not cured the financing disadvantage of the highly indebted member states. Since high-risk premiums on government bonds endanger the capital adequacy of banks, half a solution is not [...]
The euro crisis shows no signs of letting up. While 2011 was supposed to be the year when European leaders finally got a grip on events, the eurozone’s problems went from bad to worse. What had been a Greek crisis became a southern European crisis and then a pan-European crisis. Indeed, by the end of [...]
2011 was supposed to be the year that saw the back of the Global Crisis. Alas, the crisis is still with us as the North Atlantic banking part of the crisis morphed into the Eurozone crisis, and slow growth in advanced countries once again threatens emerging economies. In this column, IMF chief economist Oliver Blanchard [...]
An interview I gave Monocle’s daily radio programme last week… On the Eurozone Crisis – Monocle 24 – 14th November 2011 by Henning Meyer
Is it time for Social Europe Journal to take the lead in drafting a Constitution for the new Europe? When I spoke last June in Barcelona at the annual conference of the Social Democrat/Socialists in the European Parliament, I asked the audience a rather pointed question: what is your political program and solutions for the [...]
Germany has been leading the opposition in the European Union to any write-down of troubled eurozone members’ sovereign debt. Instead, it has agreed to establish bailout mechanisms such as the European Financial Stability Facility and the European Financial Stabilization Mechanism, which can lend up to €500 billion ($680 billion) combined, with the International Monetary Fund [...]
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 [...]
There is no end in sight for the Eurozone crisis. With each summit, the EU staggers from one rescue package to the next, without really getting to grips with the causes of the crisis. But what went wrong in the development of the Economic and Monetary Union (EMU)? During EMU’s founding phase many believed that [...]
I wrote a brief column for the New York Times last week, which I thought is worth reposting here: The eurozone crisis is yet again coming to a head. Even though the reluctant readiness of the European Central Bank to buy Italian and Spanish bonds has eased the immediate pressure for the time being, there [...]
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