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2021: The New Europe
Niall Ferguson peers into the Continent's future and sees Greek gardeners, German sunbathers—and a new fiscal union. Welcome to the other United States. Like all science-fiction, worth reading, but...
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Democracy and Debt | Michael Hudson
Germany's Frankfurter Allgemeine has translated this brilliant analysis on the relationship between debt and democracy. This article should be mandatory reading for anyone with an real interest in the...
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What Can Save the Euro?
It is increasingly evident that Europe’s political leaders, for all their commitment to the euro’s survival, do not have a good grasp of what is required to make the single currency work. Joseph E....
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The eurozone crisis: a terrifying race to become a diminished world power
Timothy Garton Ash: To see off the bond markets, the eurozone has to create a credible sovereign – but that may divide the larger EU... Great article by one of the best commentators on EU policies. I...
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Europe’s Transition From Social Democracy to Oligarchy
Another impressive analysis of the real motives behind the eurocrisis from economist Michael Hudson. First published in Germany's Frankfurter Allgemeine Zeitung. "So something has to give. Will it be...
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New EU deal faces multiple referendum threat
Within hours of arriving at a fragile treaty deal for the eurozone and nine other EU states, the agreement delivering deeper integration is already confronting the spectre of multiple referendums and...
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David Cameron's 'no' is bad for Britain and for Europe
Timothy Garton Ash: The EU will never be the same again. Although I agree that the 'no' is bad for Britain and Europe, I disagree that the EU will never be the same again. It is more the same than...
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New fiscal compact does not solve European Union’s existential crisis
Is this it? Have the Euro and the European Union been saved? In all the media noise about the splendid isolation of Britain, one might forget that the EU is facing not one but several crises and that...
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New EU treaty: leaked Corsepius letter
EU member state officials have first discussion on roadmap for new intergovernmental treaty. Can they still call it a Treaty? I thought a Treaty or Treaty change needed unanimity between 27?See it on...
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The Worst and the Best of Austerity
At Project Syndicate, Jean Pisani-Ferry, director of Bruegel, the international economics think tank, has some reservations over current indiscriminate austerity policies in Europe. The Achilles heal...
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SPIEGEL Interview: 'It Is a Mistake To Pursue a United States of Europe' -
"In an interview conducted as he heads into retirement, German Constitutional Court Judge Udo Di Fabio explains why he believes the high court's recent decisions on the European Union will not...
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An unhappy anniversary for the euro
John Grahl: If the monetary union does survive, in the form now planned by EU leaders, the cure could turn out to be worse than the disease... Good analysis of the perverse policies to save the Euro...
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Manifeste pour une Europe plus démocratique
Putting the cart before the horse - that's how I interpret this "Manifesto for a more democratic Europe" published in Le Monde. Where is the VISION for a renewed Europe which can win back the hearts of...
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How Democracy Can Save Europe
"... the solution must be a new Constitutional Convention, whose members are invested with the authority to begin again from the foundations and produce a lapidary statement of basic institutions and...
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Stronger Europe or democratic sovereignty? Yes please
Great analysis in Open Democracy about the false choice between EU federalism and intergovernmentalism and the need for genuine European politics. "The incumbent task for citizens is thus clear: to...
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Europe’s Failed Course on the Economy
Austerity measures clearly are not working, so why are leaders still forcing it on Greece and others? Very good opinion piece on Europe's myopic austerity policies in the NY Times. "Why are Europe’s...
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A proposal for Greek financing: Self-help with ‘reconstruction bonds’
"Even with the latest bailout and debt restructuring, Greek debt is still projected to be 120% of GDP by 2020. With no access to foreign markets, Greece will have to fund any future deficits by calling...
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Europe proposes banking union to ease debt crisis
As Europe's debt crisis intensifies, top officials say the continent urgently needs a central authority with the financial muscle to fix its broken banks. The flight forward for EU leaders: a "banking...
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Eurobonds: what they are, and why they won’t work
The Eurobond scheme only works effectively if taxation and spending powers are transferred to a central authority – “fiscal union”. But bar a series of truly extraordinary backflips by Europe’s...
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Austerity is undermining Europe's grand vision
Amartya Sen: Economic policy is triggering disaffection among nations – the very thing the pioneers of unity hoped to erase... Brilliant analysis by Amartya Sen on the eurocrisis in the Guardian.See...
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Save the Euro - who for?
"Our present crisis is one of democracy even more than it is of finance. It is about a lack of honesty as much as it is a lack of growth. Debt and dishonesty are together strangling European...
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Austerity, Growth and Germany’s Europe Policy
Given the interdependence and common interests of the Eurozone member states, those states with the economic power, credit and capital capacity should not have to wait for a new political spectre to...
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The Weaponization of Economic Theory
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system Good article based on a recent talk by Michael Hudson at the Madariaga College in Brussels. Hudson makes...
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New publication "Where next for Eurozone governance?"
A new research paper from Policy Network on the quest for reconciling economic logic and political dilemmas. Good paper with strong emphasis on the democratic risk of the Eurozone crisis. What is...
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Europe's democracy dilemma – how and when to step in?
Jan-Werner Mueller: As eastern European countries become more autocratic, Brussels must build a legal and political toolkit for intervention... Good Guardian article on the "Putinisation" of...
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The end of the European dream
"Nations states will have to do it, therefore, either together in some grand conference, or more probably alone, after the crisis has put some radical into power. When this will happen, the European...
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Euro-tsar to have veto powers on national budgets, Schaeuble says
The EU should have its own "currency commissioner," according to an ambitious new plan set out by German finance minister Schaeuble. This "new" idea by German finance minister Schäuble demonstrates...
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A Modest Proposal from Berlin: End Democracy in the European Union
"The Fiscal Pact mandates that all national governments in the European Union should achieve a “structural deficit” of no more than 0.5 percent of gross domestic product. I shall not again demonstrate...
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Europe's creditor protection dogma and a fiscal black hole
"One of the most striking and least well recognised facts about the crisis is that those who have ultimately benefited from public EU bailout funds are not the governments or citizens of periphery...
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Democracy in a state of emergency: Greece, the EU and the Eurozone debt crisis
Good article in Open Democracy on how this European Union is using the sovereign debt crisis as an excuse to shed of the last illusions of it being a democratic and social project for its citizens.See...
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