ECB, Greece And The Ticking NPL Time-Bomb
After the ECB regulatory tightening on banks’ non-performing loans (NPLs), announced with the well-known “addendum” to its guidance to banks of October 5, a barrage
Year: 2017
Social Pillar: Time For Principled Opposition To Austerity Consensus
On 17 November in Gothenburg, Sweden, EU leaders met for a “social summit”, presided over by Jean-Claude Juncker, President of the European Commission, who had
The Political Economy of Illiberal Democracy
Contrary to widespread belief, Viktor Orbán is not in power in Hungary because he is popular. He enjoys the support of no more than one
The Illusion Of Freedom In The Digital Age
Over the last few weeks, media around the world have been saturated with stories about how technology is destroying politics. In autocracies like China, the
Rescuing Economics From Neoliberalism
As even its harshest critics concede, neoliberalism is hard to pin down. In broad terms, it denotes a preference for markets over government, economic incentives
Learning From Catalonia: To Secede Or Not To Secede?
The standoff over Catalan independence from Spain has split not only the region and country itself, but Europe as a whole. Beyond the ongoing pyrotechnics,
We Need A Strong ‘Social Pillar’ To Support Working People
The ‘European Pillar of Social Rights’: it could be a fine example of Euro-jargon masking very little substance, or it could be a chance for
A Curtain Call For Populism
Seventy years ago in Fulton, Missouri, Churchill delivered one of his most influential speeches. In the cavernous hall of Westminster College, the former UK Prime
Five Radical Ideas For Beating Inequality
Scratch the skin of any social democrat and s/he bleeds equality. Because of structural weakness we water the concept down into social justice or fairness
EU Social Pillar: A (Potential) New Start For Europe
When EU Heads of State and Government gather in Gothenburg this week to debate fair jobs and growth, it will be the first such ‘social
Germany’s Dangerous Obsession
As Germany’s Christian Democratic Union (CDU) and its Bavarian sister party, the Christian Social Union (CSU), seek to form an unprecedented “Jamaica coalition” with the
Baltic Austerity And Euro Area Contagion
I lived in Riga, the Latvian capital, from 1999 to 2003 just before the Baltic States became European Union member states in 2004. EU membership
Why Europe Needs Civic Entrepreneurs
Europe needs a new breed of entrepreneur. Not just tech entrepreneurs who freeride on our personal data before becoming philanthropists. But civic entrepreneurs who dare
Disunited In Diversity: How National Electoral Outcomes Harm Europe
Parties belonging to the ‘moderate’ political spectrum in today’s Europe have been claiming victory in national elections across EU countries. In the Netherlands, France, Germany
Cart Before The Horse: The Challenge Of The Greek Center-Left’s Open Primary
On November 12, Greek progressives are electing a new leader through an open-to-all primary. Four parties and nine candidates are involved in the challenge. The
The (False) Promises Of Digitalization
We are surrounded by enthusiasts advertising a wonderful new world of “smart factories”. Among them are government representatives, business and employer associations, CEOs from big
Catalonia: Death Of The European Dream
On May 9,1950 the French Foreign Minister Robert Schuman proposed “to make war not only unthinkable but materially impossible.” His plan was to create a