SE Blogs

Our blogs are short commentaries on current affairs issues.

All We Are Saying Is Give Greece A Chance!

Frank Hoffer

Greek unit labour costs are down to the level of 2006, pensions have been slashed, the budget deficit largely eliminated, public sector employment has been reduced by 25%, determination to improve tax collection and deal with tax evasion is stronger than ever before, labour markets have been liberalised, bureaucratic barriers for entrepreneurship have been lowered. […]

Grexit: The Staggering Cost Of Central Bank Dependence

Charles Wyplosz

The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about […]

Why We Need Another European Council And Not a Greferendum

Andrew Watt

In the late 1950s, as the Cold War increasingly appeared likely to destroy the planet, the British philosopher Bertrand Russell wrote of the game of chicken being played by the superpowers: As played by irresponsible boys, this game is considered decadent and immoral, though only the lives of the players are risked. But when the […]

Former Finance Minister Of Cyprus On The Greek Crisis

Branko Milanovic

While on vacations in Greece, I had a chance today (Sunday 28 June) to have a long discussion with Michael Sarris who was Cypriot Minister of Finance between 2005 and 2008 when the Euro was introduced in Cyprus and then again Minister of Finance during the March 2013 crisis when Cyprus faced negotiations with “the […]

The Truth On Greek Debt Is Not So Simple

Andrew Watt

Against the background of the escalating showdown at the Eurogroup, the Greek Debt Truth Commission has issued, in English, the executive summary of its concluding report. The Committee, consisting of national and international experts, was set up to examine the causes of the increase in Greek debt and investigate its legitimacy. I had always been highly […]

The Eurozone’s Cover-up Over Greece

Simon Wren-Lewis

Whenever I write about Greece, a large proportion of comments (maybe not a majority) could be summarised as follows: how can you side with Greece when its economy is so inefficient and its governments so inept and after everything we have done for them. I have no illusions about the inefficiencies and corruption endemic within […]

Labour’s Growing Macroeconomic Illiteracy

Simon Wren-Lewis

I’ve devoted many blogs to criticising George Osborne’s macroeconomics, so for the sake of variety this post turns to a senior member of the current Labour party. Chuka Umunna is Labour’s spokesman on business, innovation and skills, and in this article for The Independent he discusses what Labour did wrong on the economy. Here is just one […]

Grexit: When Not If

John Weeks

The mainstream English language media consistently misinformed the public about the conflict between the Greek government and the Troika (aka “the Institutions”, the IMF, European Central Bank and the European Commission, with the first two creditors and the third the performance monitor). For five months the media has maintained that the conflict involved negotiations between […]

Towards A Social Democracy Based On Facebook Culture

Neal Lawson

If you were a European social democrat looking to Labour for light at the end of the left’s long and dark electoral tunnel last month then you would have been disappointed. But any cursory glance under Labour’s bonnet and a quick kick of the tyres would have told you this vehicle was never going to […]

Why Amartya Sen Is Right About What Is Being Done To Greece

Simon Wren-Lewis

At first sight the negotiations between Greece and the Troika seem to be simply a battle about resources: how much of the pie that is Greek national income their creditors should receive. There have been many similar types of battle over the years – what makes this one unusual is that the creditors have a […]