Euro crisis

Greece: a European tragedy

Wrapped up in the details of pension reforms and home foreclosure—matters that, no doubt, have important consequences for many— the big picture has fa

Euro crisis

This timeline underpins some of the main events that determined the origins and developments of the euro crisis and highlights our contributions to th

Griechenlands Schuldenlast kann und muss im Euroraum erleichtert werden

Die Verknüpfung von Schuldendienst mit der Mitgliedschaft in der Währungsunion führt zu einem Teufelskreis, der das Wachstum schwächt und damit eine R

The birth of European macroeconomics

In 1997, Milton Friedman warned that when politics clashes with economics, the outcome is not a pretty one. This column reviews some of criticisms and

The Greek last-chance proposal: stepping backwards to move forward?

Greece sent its proposal to Brussels yesterday, in an attempt to pave the way for the negotiation of a third ESM programme. The package makes signific

The political economy of financial crisis policy

Government intervention to stabilise financial systems in times of banking crises ultimately involves political decisions. This paper sheds light on h

The “Plucking Model” of recessions and recoveries

The speed of economic recoveries is generally attributed mainly to economic policies. While this view might be true, a theory suggested by Milton Frie

Brainless recovery - brain drain in the aftermath of the crisis

Throughout the 2000s, European countries have been broadly successful at attracting large numbers of highly-skilled individuals. The euro area crisis

China seeking to cash in on Europe’s crises

Last Monday, I posted about the increasing investment of China in Russia, wondering whether and to what extent it could help Russia smooth the economi

Europe's social problem and its implications for economic growth

The European Union faces major social problems. More than six million jobs were lost from 2008-13 and poverty has increased. Fiscal consolidation has

Policy complacency is the greatest threat to euro area growth

On 25 February 2014, the European Commission released its Winter 2014 Forecast document. After a double-dip recession and two consecutive ye

Banking Nationalism and the European Crisis

Oral remarks prepared for a speech on the changing European financial system, given in Istanbul on 27 June 2013 at a symposium of the European Private

Blogs review: A bird’s eye view on Bruegel’s research in the crisis

What’s at stake: On 22 January 2003, the idea of setting up what would become Bruegel had been given a strong impetus by the Chirac-Schröder declarati

Europe's Oligarchs

What form will the recovery take?