The Six-Pack: EU Mandate For Bad Economic Policy
History provides many examples of authoritarian rule achieved through formally democratic procedures. To these we should add the EU Treaty on Stability, Coordination and Governance
Economy
Analysis and debate on the European economy: growth and investment, fiscal and monetary policy, trade, industry and inequality.
Unconventional Monetary Policy On Stilts
With most advanced economies experiencing anemic recoveries from the 2008 financial crisis, their central banks have been forced to move from conventional monetary policy –
Preparing For Europe’s Next Recession
If you do not understand what is happening to the eurozone economy, you are not alone. One day we are told that growth is definitely
Time For Common Sense On Negative Interest Rates
This was to have been the year of exit from quantitative easing. Instead, 2016 is going to be the year of negative interest rates. For
Why The World Economy Needs Fiscal Policy To Overcome Stagnation
The world economy is visibly sinking, and the policymakers who are supposed to be its stewards are tying themselves in knots. Or so suggest the
How Political Elites Have Failed To Ensure Social Justice Across Generations
Something interesting has emerged in voting patterns on both sides of the Atlantic: Young people are voting in ways that are markedly different from their
Greek Pensions: Tsipras’ Last Ditch Fight Versus Troika
The Troika is in Athens and will not leave without deep cuts to pensions, even though the country is back in recession. Far from last
A State-Powered Green Revolution
Discussions about building a green future tend to focus on the need to improve the generation of energy from renewable sources. But that is just
Same ECB Medicine, Higher Dosage – Good But More Needed
The ECB has announced a further expansionary shift by beefing up a range of existing policy instruments. Barring unexpected positive shocks this will not be
As The Euro Time Bomb Ticks Away The ECB Turns Desperate
These are not happy times for Europe. Ukraine, Russia, and rising anti-democratic influences in Hungary and Poland represent latent threats at the European Union’s eastern
Why We Need To Rewrite The Maastricht Rules
The 1992 Treaty of Maastricht that lay the basis for the euro committed signing governments to several economic targets. Subsequent treaties and protocols made these
Keynes’s General Theory At 80
In 1935, John Maynard Keynes wrote to George Bernard Shaw: “I believe myself to be writing a book on economic theory which will largely revolutionize
EU Stagnation Continues: Deja Vu All Over Again
With the returning regularity of a bad habit, the Financial Times reassures us that yet again German economic growth snatches the euro zone from the
The Inequality Puzzle
Over the past decade, income inequality has come to be ranked alongside terrorism, climate change, pandemics, and economic stagnation as one of the most urgent
Here Is Why Brexiters Are Completely Wrong On Trade
The fight for the UK to remain a member of the European Union is now fully on. The country will have a momentous decision to
Europe Should Tighten Monetary Policy And Ease Fiscally
Mario Draghi and Wolfgang Schäuble are experienced people who know the euro bloc is in an impasse. The European Central Bank president and Germany’s finance