With âcoronabondsâ stymied, an exit from the crisis had depended on ECB monetary operationsâuntil the German constitutional court weighed in.
John Weeks argues in our âjust transitionâ series that its success is linked to a political message of hope.
Some orthodox economists predicted fiscal austerity would build confidence and so foster recovery. Yet at the end of the lost eurozone decade recession looms once more.
European integration began as a political project to institutionalize peace and cooperation, with the Coal and Steel Community the initial step. In the late 1980s and into the 1990s, roughly coinciding with the end of the Cold War, priorities changed â from peace and cooperation to trade competitiveness. The Treaty on European Union (TEU) formalized […]
Sending a Message In Chapter 5 of the Book of Daniel in the Old Testament of the Judeo-Christian Bible, mysterious writing begins to appear on a plaster wall during a feast presided over by the Babylon king Belshazzar.Â When none of the kingâs wise men can interpret the writing, the Jewish captive Daniel provides its […]
On 17 November in Gothenburg, Sweden, EU leaders met for a âsocial summitâ, presided over by Jean-Claude Juncker, President of the European Commission, who had also attended the previous one 20 years before. According to the official press release, a central purpose of this gathering of heads of government and EU officials was to proclaim […]
False Optimism from Brussels On September 13 in Strasbourg, the President of the European Commission Jean-Claude Juncker delivered hisÂ annual âstate of the Unionâ address. Early in that speech,Â he assured his listeners: âWe continue to make progress with each passing dayâ. I cannot help but wonder if President Juncker would now venture that same optimism, which […]
I and many others have argued that the basic EU treaties have flexibility to accommodate most social democratic policies such as those in the 2017 Manifesto of the UK Labour Party. Our argument may soon suffer a decisive blow from the EU parliament. In March 2012 twenty-five EU national governments signed the Treaty on Stability, […]
Where we are At the end of August Britainâs Labour Party formally announced its policy towards future relations with the European Union. The policy document explicitly âaccepts the referendum resultâ and will âbuild a close new relationship with the EUâ. The British media chose to emphasize not EU employment rights or environment protections but Labourâs […]
Babbling Brexit The British media provides a consistently misleading version of the process of UK disengagement from EU membership. The term used for this process, âBrexitâ, is itself a substantial source of misguidance and obfuscation. The consistently poor reporting and misinterpretation have a clear cause. The British media continues to fight the in/out battle rather […]
There is a general perception in the UK that the remaining EU states, and Germany especially, would like to punish Britain for withdrawing from the European Union. This would mean Britain out in the cold, no trade deal, and potentially a fineÂ to make up for lost payments. The problem here is that it is generally […]
In the wake of the formal invoking of Article 50 by Prime Minister Theresa May, no one knows with certainty the impact on the UK economy of leaving the European Union. Claims of imminent damage and possible disaster should be treated at best as informed speculation and at worst as more of the dysfunctional fear […]