politics, economy and employment & labour
British Prime Minister Theresa May has, of her own volition, stripped her Conservative Party of its governing parliamentary majority by calling an early election. If she stays on as prime minister, she will also strip British citizens of the political and economic rights conferred by membership in the European Union. But May’s habit of stripping […]
German Chancellor Angela Merkel has never been regarded as an especially inspiring orator. In fact, she has a reputation for gently talking her audiences to sleep. But that all changed a few days ago. While campaigning in the Munich suburb of Trudering, Merkel, speaking from a beer tent, delivered a powerful speech that dominated headlines […]
Ever since the ‘Great Recession’ of 2007-2009, the world’s major central banks have kept short-term interest rates at near-zero levels. In the United States, even after the Federal Reserve’s recent increases, short-term rates remain below 1%, and long-term interest rates on major government bonds are similarly low. Moreover, major central banks have supported markets at […]
As Prime Minister Theresa May seeks to form a new government, following an election in which her Conservative Party lost its parliamentary majority, she knows that, within days, she will also need to get down to the nitty-gritty of negotiating Britain’s exit from the European Union. Preparations for the Brexit negotiations have been underway for […]
For years, the eurozone has been perceived as a disaster area, with discussions of the monetary union’s future often centered on a possible breakup. When the British voted to leave the European Union last year, they were driven partly by the perception of the eurozone as a dysfunctional – and perhaps unsalvageable – project. Yet, […]
Britain, France, the United States – which is the odd one out politically? The answer seems obvious. Last year’s Brexit referendum in the United Kingdom and the election of Donald Trump in the United States were the twin symbols of populist revolt against global elites. In Emmanuel Macron, France, by contrast, has just elected as […]
Emmanuel Macron’s election to the French presidency provides the European Union with an opportunity to move past the internal conflicts that have hastened its disintegration. Rather than standing exclusively with the old elites or the new populists, Macron has promised to rally broad political support under the banner of European reform. But can he really […]
European politicians have mastered the art of wagging their finger, most recently at Turkish President Recep Tayyip Erdoğan, Russian President Vladimir Putin, and US President Donald Trump. Sadly, the same cannot be said for our ability to formulate political solutions and implement common policies. The refugee crisis has shaken Europe to its core, because, rather […]
After last year, when the United Kingdom voted to leave the European Union and the United States elected Donald Trump as president, xenophobic nationalism was beginning to seem irresistible. Yet France has now become the biggest power to buck the trend, electing as its president the socially liberal, pro-immigration, and pro-Europe Emmanuel Macron. Has the […]
Emmanuel Macron’s decisive defeat of Marine Le Pen in the French presidential runoff was a major victory for liberal Europe. But it was a battle, not a war. The idea that one in three French citizens would vote for the National Front’s Le Pen was inconceivable only a few years ago. Commentators have affixed the […]
Emmanuel Macron’s victory over Marine Le Pen was much-needed good news for anyone who favors open, liberal democratic societies over their nativist, xenophobic counterparts. But the battle against right-wing populism is far from won. Le Pen received more than a third of the second-round vote, even though only one party other than her own National […]
A lot can happen between now and the second round of the French presidential election on May 7, so it is still too early to celebrate. But, even with the nationalist, populist candidate Marine Le Pen still in the running, many observers are genuinely hopeful that the first-round winner, Emmanuel Macron, will be France’s next […]
