German rebalancing—out of exit options
The consensus against German fiscal rebalancing is cracking—because the export demand which allowed it long to be avoided is looking shaky.
Economy
Social Europe is an award-winning digital media publisher driven by the core values of freedom, sustainability, and equality. These principles guide our exploration of society’s most pressing challenges. This archive page curates Social Europe articles focused on economic issues, offering a rich resource for innovative thinking and informed debate.
Open letter to my German friends about the ECB policy
Guillaume Duval argues that Germany can see the end of ECB quantitative easing—if only it stops imposing austerity on the eurozone.
Top of Lagarde’s ECB to-do list: stop QE and democratise monetary policy
If Christine Lagarde is serious about greening the European Central Bank, she must not hide behind its mandate.
Mario Draghi and the Germans
Not only is German animus towards Mario Draghi misplaced, Peter Bofinger argues. His stewardship of the European Central Bank has been a boon for the largest eurozone economy.
Shadow of recession deepens over the eurozone
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.
The nationalisation of risk in the eurozone
As economic clouds darken once more, a eurozone without risk-sharing remains a eurozone at risk.
Inequality in Europe—wider than it looks
Most discussion of inequality in Europe is confined to individual member states. Aggregating incomes across the EU, however, presents a sobering picture.
The International Monetary Fund leadership is not a bargaining counter
Europe must get beyond seeing the head of the IMF as part of the spoils from Bretton Woods.
The exploitation time bomb
Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich.
The challenge ahead: a safer and more dynamic Europe
In the latest in our ‘Europe2025’ series, Gustav Horn focuses on macroeconomic institutional reforms for financial stability and a programme of investment to engender vital public goods.
Libra: Facebook’s new currency fails the Hayek test
Libra means ‘balance’ in Latin. But Peter Bofinger argues that Facebook’s proposed cryptocurrency would be highly risky for holders and a giant enrichment programme for the company.
New UK regulations aim to end gender stereotypes in adverts—but could go further
Advertisers still often hit consumers with gender stereotypes. And so they often miss—at their own business expense.
Beyond the EU budget zero-sum game
Discussion of the EU budget brings strife between supposed net contributors and beneficiaries. Yet the picture is more complex and Europe-wide taxation offers a way out.
Redefining austerity: a lesson from Greece
What can an elected left-wing European government do when faced with imposed austerity? Redefining austerity can bring a turnaround.
Structural crisis and robotisation require more Europe, less austerity
The Great Recession, as with the Great Depression, is proving to be a structural crisis, which only a Euro-Keynesian programme of public investment can tackle.
Modern monetary theory: a simple macroeconomic model
Why has modern monetary theory come out of the academy? Because it helps model the current economic predicament and how to get out of it.
Sovereign spreads and the frailty of the eurozone
The failure to provide for risk-sharing in the eurozone architecture has sustained chronic mistrust, reflected in sovereign spreads.