... pushed off the agenda. However, this hiatus offers Europe’s expert community an ideal opportunity to assess and rethink the main outlines of the European Union’s policies. The report “
We Don’t Need No Federation. What a Devolved Eurozone Should Look Like
” by Christian Odendahl, Chief Economist at the Centre for European Reform, offers an original way out of the difficult situation that has developed within the EU single currency area.
Odendahl believes that today’s ...
... the dependency on Western financial centers and the US dollar as the main international transaction and reserve currency”. To put things into perspective a comparison with the most widely discussed monetary union would seem only appropriate. The Eurozone. According to the classifications a monetary and fiscal union is the last stage before complete economic integration - which inevitably implies the total harmonisation of the economic, monetary, fiscal and trade policy of all of the member states....
... beginning. The technical groups that were created to fix the grey days of 2009-2010 with help from the IMF revealed that the huge loans made under Memorandums I and II were created to protect Germany’s and France’s bonds. Without any doubt, the Eurozone project is very weak. Moreover, the leaders of the Eurozone states did not prevent the difficulties that Eurozone itself could have tackled, which had members with serious structural problems such as Greece.
Therefore, the first fact comes through ...
... projections. The new government appeared to be making substantial concessions in its early negotiation with creditors in late February, opening the door to an extension of the bailout program and further talks on the future of reform efforts. In view of the eurozone’s evolving architecture and the German government’s insistence on a certain version of
Ordoliberalismus
, it was a sensible thing to do.
But SYRIZA the party reasserted itself, imposing on the SYRIZA-led government a different set ...
Grexit: Economic Implications for Greece, EU and the Rest of the World
The January 25, 2015 could be perceived as a milestone for both Greek and European political reality. If we take as a given that the eurozone crisis is a problem with many international implications, we will understand that Syriza party is something new within the international system. The important issue is the interaction among the key actors of this negotiating process. What are ...
... travails of Europe will unquestionably impact the global stock markets and will send waves of shock to global confidence.
There is little doubt that the country’s debt-servicing bill declined because private financial investors have been replaced by Eurozone countries which currently own 60 % of Greece’s €322 billion government debt that equals to 179% of GDP
[11]
. The concluded extension of the country’s repayments to 2054 and the cut in interest payments is considered by many ...
... 100,000 officials. Virtually at the same time, similar recommendations, allegedly to help “fiscal rehabilitation”, were given to Greece’s Conservative-led coalition government.
Photo: Flickr / EnvironmentBlog
ВVladislav Belov:
The Eurozone – the Innovation Experiment is
in Progress
The Portuguese approach to tackling the crisis, albeit without formal dependence on the troika, was also tried in neighboring Spain. Having come to power in November 2011, the People’s Party ...
The Consequences of Latvia's Accession to the Eurozone
The EU debt crisis has brought several vulnerabilities of the Eurozone to the surface, raising the issue of economic consistency of Brussels' monetary policy. Slower economic growth, strict budgetary discipline, rising unemployment and, consequently,...
The Eurozone troubles have worsened relations between Britain and its European partners
After just one year in power, the British coalition government was forced to deal with a harsh EU-wide crisis focused around the Eurozone, one which called the latter's ...
The present crisis in the eurozone is caused in many respects by the political commitment of the movers of this ambitious experiment as well as by the lost opportunities of some of its members which have been participating in the structural reforming of their national economies ...
