Tag Archives for Eurozone

Unfinished business: reforming the Economic and Monetary Union

Peter Verovsek

Europe’s citizens must put pressure on their leaders to reform the Eurozone – before the next crisis hits The crisis of the Eurozone, which began in 2010, was part of a global economic downturn. Its effects were felt across Europe but had the biggest impact among the member-states of the European Union (EU) that share the Euro.  This was due … Continue reading

3 July 2017 by
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The EU a year after the UK referendum: new momentum and optimism?

Simon Bulmer

With the EU issue in the UK far from settled, reports of the demise of the EU and the Eurozone have been greatly exaggerated It is now exactly 12 months since the British people voted to leave the European Union and this week Brexit negotiations finally started.  While Theresa May’s minority government seeks to sort out its negotiating strategy on … Continue reading

23 June 2017 by
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Will Frankfurt, Paris and Dublin replace the City of London after Brexit?

Scott Lavery

Alternative EU financial centres are unlikely to supplant the City as Europe’s premier financial hub – but private and public actors within these urban centres are already seeking to ‘capitalise’ on Brexit It is often claimed that alternative financial centres (AFCs) within the EU are well-placed to benefit from Brexit. However, no comprehensive analysis of the positioning of AFCs in … Continue reading

3 April 2017 by
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European sovereign bond-backed securities: a dangerous idea

The securitization of European government bonds is likely to increase hierarchies in the Eurozone. Eurobonds represent the most viable path to fiscal solidarity and political union Recently, European policymakers and representatives of financial institutions met in Paris at a workshop organised by the European Systemic Risk Board, the body which is responsible for the macroprudential oversight of the EU financial … Continue reading

10 January 2017 by
Categories: SPERI Comment | Tags: , , , , , | 2 comments

2016 and the return of the nation-state

Whilst the turbulence of this year has caused political shocks the apparent resurgence of the nation-state should be no surprise Much of the political rhetoric that has been deployed during this period of political turbulence can make 2016 appear as the year the nation-state returned.  Yet for all the shock value associated with the year’s political events this apparent resurgence … Continue reading

21 December 2016 by
Categories: SPERI Comment | Tags: , , , , , , , , | 1 comment

The Coming Crisis: enduring imbalances in the Eurozone

Scott Lavery

In the third blog in SPERI’s new series on ‘the coming crisis’ Scott Lavery examines three areas of imbalance in the Eurozone and argues that the single currency area remains vulnerable to a future economic downturn Jean Monnet – one of the architects of the European integration process – once opined that “Europe will be forged in crises, and will … Continue reading

13 April 2016 by
Categories: Economics, Europe and the EU, SPERI Comment, The coming crisis | Tags: , , , , , , , | Leave a comment

Lexit? Careful what you wish for…

Owen Parker

A number of voices on the British left have in recent months pushed the idea of ‘Lexit’ – a progressive position in favour of Britain leaving the EU. While their critique of the EU has merit, their solution is counterproductive In July 2015 Owen Jones suggested that the British left should seriously consider ‘Lexit’ – a progressive position in favour … Continue reading

12 April 2016 by
Categories: Economics, EU Referendum, Europe and the EU, SPERI Comment | Tags: , , , , , , , , | Leave a comment

The making of the modern ‘Debt State’

What we know (and don’t know) about ownership of public debt In a previous contribution to SPERI Comment, I presented some of my research on the domestic ownership structure of the US federal debt. The findings showed that since the early 1980s, and especially since the onset of the global financial crisis, federal bonds have become heavily concentrated in the … Continue reading

10 March 2016 by
Categories: Austerity, Debt, Economics, Inequality, SPERI Comment, Tax, USA | Tags: , , , , , , | 2 comments

Bad things can still happen to ‘good pupils’ in the Eurozone

Neil Dooley

Portugal’s aspirant ‘good behaviour’ has contributed not only to its recent political crisis, but also its longstanding economic woes Portugal’s political elites, such as Luís Marques Guedes, are often eager to let the world know that they are the hardworking ‘ants’ of Aesop’s fable, while ‘the Greeks are grass-hoppers’ who have failed to plan for the future.  In a thematically … Continue reading

9 December 2015 by
Categories: Economics, Europe and the EU, SPERI Comment | Tags: , , , , , , , , , , | Leave a comment

Greece’s 3rd MoU: a one-way street?

Alexandros Kyriakidis

Syriza’s post-referendum agreement with the Troika stands as a ‘tombstone’ over potential alternatives to the Eurozone’s ordoliberal foundations The Eurozone crisis has brought about fundamental changes in the EU framework of governance. Overall, the founding ordoliberal model, often closely and correctly linked to the ideational hegemony of Germany, has been strengthened. Despite argumentation, by early 2015 all member-states had eventually … Continue reading

27 October 2015 by
Categories: Economics, Europe and the EU, Politics and policy, SPERI Comment | Tags: , , , , , | Leave a comment

A clash of two projects: fundamental rights and the European Monetary Union

Robbie Pye

The EU could re-introduce fundamental rights into the governance of the Eurozone merely by holding to commitments it has already made Over the last five years the response to the Eurozone crisis has given rise to a framework of governance that has become increasingly hostile to domestic social standards.  Yet, in the decade prior to this, the EU went through … Continue reading

15 October 2015 by
Categories: Economics, Europe and the EU, Finance, SPERI Comment | Tags: , , , , , , | Leave a comment

Variations in austerity-based reform

Tom Hastings

PIIGS and GIPSIs may appear to face common problems, but we should always respect the uniqueness of each country’s particular crisis For well-documented reasons the Greek political economy has received unprecedented attention in recent months, fuelled not least by the possibility of ‘Grexit’ and the potential impacts of this on both Greek society and the wider Eurozone. It is worth … Continue reading

26 August 2015 by
Categories: Austerity, Employment, Europe and the EU, SPERI Comment, Welfare | Tags: , , , , , , , , | Leave a comment

Vorsprung durch Technik?  Germany and the Eurozone crisis

Simon Bulmer

Key aspects of Germany’s approach to the Eurozone crisis are structural, but they still have a ‘dark side’ So, Greece managed to make its loan repayments (€750m to the IMF) on 11 May 2015. However, the road ahead remains arduous, with almost daily speculation about GREXIT.  Relations with Germany were never going to be easy, given their governments’ diametrically opposed … Continue reading

27 May 2015 by
Categories: Debt, Economics, Europe and the EU, Finance, Politics and policy, SPERI Comment | Tags: , , , , | Leave a comment

Merkel, Draghi and Tsipras

Simon Bulmer

These are the three key European leaders of the moment, but a Eurozone ménage à trois remains highly unlikely… Over the course of the Eurozone crisis the German government has been the most important influence on policy, raising the question of its potential hegemonic role.  Its prescriptions have followed an ordoliberal script.  Over the past couple of weeks Berlin’s policy … Continue reading

5 February 2015 by
Categories: Debt, Economics, Europe and the EU, Politics and policy, SPERI Comment | Tags: , , , , | Leave a comment

Video of David Marsh book launch

Thank you to all of those who attended what turned out to be a very interesting and insightful book launch. For those of you who couldn’t make it, David Marsh (Financial Times journalist and Chairman of the Official Monetary and Financial Institutions Forum (OMFIF)) launched the paperback version of his book Europe’s Deadlock : How the Euro Crisis could be … Continue reading

26 November 2013 by
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Get involved in the debate that matters

As Spain becomes the latest  country to be bailed out in the Eurozone, the search for a new British growth model becomes ever more pressing. You can still register for our conference ‘The British Growth Crisis: The Search for a New Model’ (16-18 July, University of Sheffield) and be part of this debate. To view the full, exciting programme , which … Continue reading

14 June 2012 by
Categories: Colin Hay, Conference 2012, Events | Tags: , , , , , , , , , , , , , , , | Leave a comment

Ann Pettifor to speak at SPERI Inaugural Conference

Not long to go now. We hope you are looking forward to the SPERI conference as much as we are! Unfortunately, Lord Robert Skidelsky has been called to join a group of economists in Greece in July to advise political leaders on the crisis and obviously, in the present circumstances, we understand this is a task he must not refuse. Instead, however, … Continue reading

1 June 2012 by
Categories: Conference 2012, Events, International Advisory Board | Tags: , , , , , , , , | Leave a comment

Can growth come out of austerity? Lord Skidelsky announces title of his conference speech

In the wake of recent events in Greece, SPERI Co-director Colin Hay spoke live on BBC Radio 5 this week about the consequences of the Greek election, prospects for Greece’s exit from the Eurozone & the implications for the Euro. With this in mind, and warnings of  a second credit crunch in Europe in the news today, the subject of … Continue reading

17 May 2012 by
Categories: Colin Hay, Conference 2012, International Advisory Board | Tags: , , , , , , | Leave a comment