debating progressive politics in Europe and beyond
Economists like to talk about thresholds that, if crossed, spell trouble. Usually there is an element of truth in what they say. But the public often overreacts to such talk. Consider, for example, the debt-to-GDP ratio, much in the news nowadays in Europe and the United States. It is sometimes said, almost in the same [...]
From the start of the Greek debt crisis in 2010, the major European players should have understood the risks and consequences that it posed for the European Union. They certainly don’t give that impression to onlookers. The crisis was always about much more than Greece: a disorderly insolvency there would threaten to pull other economies [...]
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