Without a mutualisation of risk, the euro will collapse, with devastating implications for German exports, the value of Germany's foreign investments, and the stability of its banking sector. By contrast, the reforms needed to stabilise the eurozone pose far fewer risks to Germany.
The rise of Syriza is a profound transformation for a radical left that is still traumatized by the defeat of Greek communism in the last century. This radical left now wants to break with its position of being eternally in the minority - a force dedicated to nothing but “resistance”.
As the European crisis intensifies, the Mediterranean’s cultural funding is increasingly landing on the chopping block. But can a cultural policy presided over by a bipolar Union ever hope avoid becoming a victim of the continent’s single-minded drive for austerity? 0 0 1 18 109 Yale University 1
Even as the European crisis intensifies, clientelism and corruption continue to dampen Italy’s prospects for development.
The European debt crisis is political more than financial, as argued by George Soros. But the solution to the political problem needs to confront domestic political elites throughout Europe, jealous of their power, with the dishonesty of their stance. Hold on tight - this process provides hope for
The euro crisis needs a collective solution, designed and implemented by both the core and the periphery. It has to be a political solution underpinned by good economic and financial reasoning. What George Soros is telling us is that the latter is by no means guaranteed.
Whatever the case, one thing is certain: Syriza will further increase its voting power.
To understand the dynamics and timing of the Eurozone crisis, you need to understand how the European Central Bank actually works. The truth is, it is not really a fully fledged central bank at all. National central banks, including Greece's, have been using their power to transform bad bank loans
They think ‘Europe’ is ‘foreign affairs’. But Europe is nothing if it is not its citizens. That is why, the day before the Greek elections, a demonstration in solidarity with the Greek people will take place in Dublin (at The Spire at 1pm).
Greeks should not accept Germany's austerity measures but should remain in the euro, and ultimately seek a federal EU. This is the only way to end the sovereign debt crisis and restore EU trust, solidarity and collective responsibility.
It is time to stop the chorus of blackmail assailing Syriza, the radical Greek left party poised to win the Sunday election, from all sort of pundits, international officials and, above all, Merkel - along the lines that if their anti-bailout platform wins the June 17 contest then Greece would be
It may be time to remind ourselves of the parallels between today's IMF-Merkel-Cameron package for Europe’s nations in the red, and the structural adjustment policies of the 1980's. Meanwhile, the centre has everything to gain from the misery of the periphery if only everyone can be persuaded to h
