Throughout history, major political and economic shocks have often occurred in August, when leaders have gone on vacation believing that…
Any solution to the Eurozone crisis must meet two objectives. One is short run and the other is long run. Unfortunately they tend to…
Consider the following scenario. After a victory by the left-wing Syriza party, Greece’s new government announces that it wants to…
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Greece and Italy, desperate after their gridlocked political systems left them mired in debt and crisis, have chosen technocratic…
By now just about everybody agrees that the European bailout of Greece has failed (see for example Darvas et al. 2011). The debt will have…
Many small countries on the periphery have experimented with policies and institutions that could usefully be adopted by others.
Two…
Financial meltdown has been averted in Europe ? for now. But the future of the European Union and the fate of the eurozone still hang in…
The $140 billion support package that the Greek government has finally received from its European Union partners and the International…