debating progressive politics in Europe and beyond
France and Germany held largely contradicting hopes and aspirations for Europe’s common currency. To France the key issue in establishing a European monetary union was to end monetary dependence, both from the vagaries of the U.S. dollar and from regional deutschmark hegemony, and to establish a global reserve currency that could actually stand up to [...]
In case of severe economic depressions, even the OECD considered public works programmes (PWPs) a reasonable option in fighting the rise of unemployment: “… increased reliance on public sector job creation schemes targeted to the hardest-to-place jobseekers might provide a useful, temporary backstop to activation regimes during the recession.” (OECD Employment Outlook 2009, p. 14). [...]
A recent ECB household-wealth survey was interpreted by the media as evidence that poor Germans shouldn’t have to pay for southern Europe. This column takes a look at the numbers. Whilst it’s true that median German households are poor compared to their southern European counterparts, Germany itself is wealthy. Importantly, this wealth is very unequally [...]
Last week the ECB published a report containing an incredible revelation: Cypriot and Spanish households are wealthier than German households.[1] How is this possible? We are dealing with an accounting fiction. Spain and Cyprus have a much higher rate of home ownership than Germany, and most household wealth consists of real estate. Both countries saw [...]
My objective in coming here today is to discuss the euro crisis. I think you will all agree that the crisis is far from resolved. It has already caused tremendous damage both financially and politically and taken an extensive human toll as well. It has transformed the European Union into something radically different from what [...]
As the economic slump across the European Union deepens and social distress grows, a terrible sense of political impotence grips those desperate to see recovery. There is a blunt reality to be faced: if progressives cannot respond to the crisis in the Euro-area with an effective alternative, there is a growing danger not only that the [...]
Europe can choose its own musical accompaniment to its latest crisis. In Berlin, 50 Cent’s “All Things Fall Apart” has just had its premiere, so that soundtrack might be appropriate. Or the continent can reach back to Giuseppe Verdi, born two hundred years ago, whose penultimate, and probably greatest, operatic achievement starts on the coast [...]
Are we now living in a German Europe? In an interview with EUROPP editors Stuart A Brown and Chris Gilson, Ulrich Beck discusses German dominance of the European Union, the divisive effects of austerity policies, and the relevance of his concept of the ‘risk society’ to the current problems being experienced in the Eurozone. How has Germany [...]
From Bloomberg: Athanasios Orphanides, former governor of the Central Bank of Cyprus, talks about a proposed unprecedented levy on Cyprus’s bank deposits and the potential impact on Europe’s financial system. Orphanides speaks with Tom Keene and Sara Eisen on Bloomberg Television’s “Surveillance.” Megan Greene, chief economist at Maverick Intelligence, also speaks.
Angela Merkel’s European policy has so far not succeeded in solving the Eurozone crisis and has been widely criticised across Europe. The recent Italian election has again shown the level of discontent with Europe’s political direction. If you are part of the next German government what would you like to change in the German European policy approach? [...]
There has never been this much Europe! I say that as someone who is profoundly grateful to be able to look across this room and welcome guests from Germany and from all over Europe. There has never been this much Europe. A lot of people at the moment have very different feelings about that when [...]
German economic policy doesn’t exactly have a glowing reputation on the European Centre-Left. Deservedly so. Obsession with micromanaging inflation. Stupid fiscal rules. A belief that everything will be fine as long as everyone runs export surpluses. All these are often portrayed,with some justification, as products with Made in Germany stamped on them. Particularly in recent [...]
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