SE Blogs

Our blogs are short commentaries on current affairs issues.

We Need An Industrial And Innovation Policy For Europe

Paolo Pini

The prolonged economic crisis since 2008 has drastically reduced incomes and employment levels and the promised recovery will not reabsorb unemployment, particularly in Europe. Nevertheless, economic policy in Europe is sticking to past recipes based on two mainstays: fiscal austerity and labour flexibility. This strategy does increase the short-run cost competitiveness of European firms overseas […]

The Three Elements Of A New Deal For Greece And The Eurozone

Henning Meyer

Now that the Greek elections are out of the way and the new government under Alexis Tsipras has taken office we are entering a phase in which the existing policy mix will be re-negotiated. This is good news and overdue as the old recipes have clearly not worked. The evidence from Greece and elsewhere is […]

How To Improve The ECB’s QE Programme

Ronald Janssen

With up to €60 bn of debt a month being bought for the next 19 months, the ECB’s programme of quantitative easing (QE) is massive. But its programme suffers from three major shortcomings (see below). These shortcomings imply that the ECB’s QE programme, even if it does represent a major leap, needs serious redesigning. It […]

The Cost Of Inequality In Women’s Work

Nuria Molina

It’s that Davos time of the year, when a bunch of powerful men gather in a luxurious Swiss ski resort to re-assure the 99% that the global economy is in good hands. But is it? According to IMF head Christine Lagarde “The answer is most likely ‘No’.” A spectre of a nightmarish deflationary spiral of […]

Dramatic News On QE – ECB Takes Steps To Fulfil Its Price Stability Mandate

Andrew Watt

Speculation in the media had been building for weeks concerning the adoption of quantitative easing – the purchase of sovereign bonds or other financial securities using central bank money – by the European Central Bank. In the run-up to today’s decision, commentators and policymakers had been reaching for the superlatives. Unprecedented action. Opening the monetary […]

How The ECB Can Structure Quantitative Easing Without Fiscal Transfers

Paul De Grauwe

The ECB has been struggling to implement a programme of quantitative easing (QE) that would successfully target deflation. The main difficulty is political, stemming from opposition from German institutions. Their argument against is that a government bond buying programme by the ECB would mix fiscal and monetary policy. This column argues the opposite – such […]

Let’s Hope For A Syriza Victory!

Simon Wren-Lewis

If you think this sentiment is dangerous, because you have read that if this left wing party formed a government after the forthcoming Greek elections the Eurozone would be plunged into crisis, I suspect you should reconsider where you get your information from.[1] Here is why. Syriza wants to reduce the burden of Greek government […]

Greek Elections, Democracy, Political Trilemma, and all that

Dani Rodrik

Two-and-a-half years ago I wrote a short piece titled “The End of the World as We Know It” which began like this: Consider the following scenario. After a victory by the left-wing Syriza party, Greece’s new government announces that it wants to renegotiate the terms of its agreement with the International Monetary Fund and the European Union. […]

Joseph Stiglitz On Inequality

Branko Milanovic

I am just back from the American Economic Association/Allied Social Sciences meetings in Boston. It was a hit-and-run affair for me: I could  go just for my session, and then back to New York. Nine hours on the train in order to speak for 15 minutes (a 36 to 1 ratio for the lovers of inequality). The […]

The Greek Election 2015 – Revolt Of The Debtors

Paul De Grauwe

The Greek debt crisis that erupted in 2010 is back and again threatens the stability of the Eurozone. That crisis was the result of two factors. First, an unbridled spending drift of both the private and the public sectors in Greece during the boom years of 2000-2010, which led to unsustainable levels of debt. Second, […]

Wage Cuts And Austerity Have Come To Belgium

Ronald Janssen

Workers are paying the bill while business is getting a free lunch Today, trade unions in Belgium are organising a general national strike. This will come on top of 3 days of regional strikes as well as a national manifestation, all of which have been massively followed up by workers over the past month. Moreover, […]