Euro

Author: Alexander TIetz

  • Whether ‘S’ Stands for System or for Spain will Decide Future of the Euro

    by Ferdi De Ville Since long, discerning observers have argued that Spain, not Greece (or Ireland or Portugal for that matter), would be the real test for the euro. Now, this moment has arrived. The question is whether decision makers will again argue that the troubles in Spain are a Spanish problem that it has…

  • Wake me up when September Ends

    by Carsten Brzeski The German Constitutional Court will present its verdict on the European Stabilty Mechanism and the fiscal compact on 12 September. A reversal of the ESM looks unlikely, but more powers and control to the German parliament would limit the often called for flexibility of the ESM already from the start. At least…

  • Reforming Greece II: Ideas for a Successful Bottom-Up Approach

    by Daniela Schwarzer If a bottom-up approach, which I suggested in my earlier blog, is a promising way to promote reforms in Greece, one should discuss criteria for a successful strategy. A first criterion is to have the strategy formulated within Greece, given the limited success of outside influence (the Troika). A second would be…

  • A New Approach in and for Greece I

    By Daniela Schwarzer The election results of June 17th and a possible renegotiation (most probably of the time line) of the conditionality imposed on Greece in exchange for the rescue package may give the country some breathing space. The new growth strategy agreed at the June European summit may also stimulate the Greek economy which…

  • The Political Crisis – A Better Europe Starts at Home

    By Rainer Emschermann  As market reforms and budget consolidation are meeting increasing political constraints, it is perhaps not surprising that the call for ‘more Europe’ has become louder. While such eagerness for the European project should be welcomed, it is not genuine but motivated by short-term interests of the political classes. Rising doubts about the…

  • Nobody Won in the Non-Final

    By Ferdi De Ville The Dutch were most clamorous, even a little arrogant, but eventually played no role and had to slink off. The English played defensive, achieved a minor success but were other than that largely ignored. Super Mario defeated Germany. Spain was the winner in the end. For a euro-outsider, it must have…

  • Two parallel realities

    By Nikos Chrysoloras* There is no better proof that my country is drifting away from the eurozone than the sharp difference between the prevalent mood in Brussels and Athens, in the aftermath of May 6th’s elections. While Europe was desperately trying to figure out how to react to the inconclusive result and the huge blow…

  • The Choice between a Hard Landing and a Crash

    by Nikos Chrysoloras* Many would argue that the phrase “they all got what they deserved” could serve as a stand-alone snap analysis, on the inconclusive result of May 6th’s elections in Greece. The centre-right Nea Democratia (ND) and the centre-left PASOK – the two parties which have dominated Greece’s political landscape since the restoration of…

  • Japanese Views on the Euro – or Whether the Plane will Eventually Fly

    by Daniela Schwarzer During a recent symposium on global governance held in Tokyo, a Japanese moderator said: “Flights and reforms have something in common, both in Japan and in Europe. First, a delay is announced, because no one dares to say the truth. Later, it turns out that the flight has been cancelled.” I found…

  • Greece: the Euro’s Democracy-Compatibility Test

    by Ferdi De Ville The election of Francois Hollande as the new French president did not come as a surprise to anyone. It had – as I argued in a previous blog – been anticipated in advance in EU circles. This led to a reorientation of the crisis discourse in the EU towards growth and…