The arcane notion of ‘monetary dominance’ lay behind the last eurozone crisis. Unless challenged, it could underlie another one.
Many economists advocate a sovereign insolvency regime to solve the problems that plague today’s Eurozone. If there were an orderly way to declare a government insolvent and reduce its debts, it could gain sufficient breathing space for a more expansionary fiscal policy; other countries’ taxpayers would not have to bail out reckless banks and those […]
Yanis Varoufakis, the economics professor and new Greek finance minister, used a press conference with Wolfgang Schäuble last week in Berlin to issue an emotional appeal to Germans for solidarity; they, after all, knew from their experiences of the 1930s how bad the political consequences of an economic depression could be. Are those just the […]
Once upon a time, the European Commission dreamt of making the European economy ‘smart’ – by investing in education, research and innovation -, more ‘sustainable’ – by moving Europe into a low-carbon economy – and ‘inclusive’ – by boosting job creation and reducing poverty. That was in the year 2010, it was the Commission’s “Europe […]