Jobs for Greeks and for Americans, Too

Here’s a nice piece: The Workers’ Think Tank: With an eye on the United States and Greece, scholars at the Levy Economics Institute are developing plans to ensure full employment, by Sasha Abramsky, February 2, 2015, The Nation. http://www.thenation.com/article/196721/workers-think-tank As Sasha notes, the Levy Institute has a novel approach to fighting unemployment: JOBS! Hardly anyone ever […]

Toward the Eurozone’s Defining Moment (Finally)

After Greek elections, Brussels and Berlin can no longer shun the issue of debt relief. The era of inflated projections is over. Before the New Year, the Hellenic parliament rejected the nominee of Prime Minister Antonis Samaras for president. Stavros Dimas was not likely to secure two-thirds of the required 300 votes. The former European […]

Dealing with the Fallout from U.S. Policies

The divergence of monetary policies in the advanced economies continues to roil financial markets. The Federal Reserve has reacted to better labor market conditions by ending its quantitative easing policy. The Bank of Japan, on the other hand, will expand its purchases of securities, and the European Central Bank has indicated its willingness to undertake […]

The City of London in a New Geopolitical Order

Among the world’s financial hubs, the City of London is most in search of a new identity that would allow it to adapt to an evolving geopolitical scene. Global financial hubs tend to be the key financial center of the country, region or continent they are based in: New York is the most important financial […]

Europe’s Great Divide

In our previous post (here), we described post-electoral Europe’s stalemate in a European version of the  “Impossible Triplet” sketched by Dani Rodrik to describe the dilemmas of globalization. We drew a triangle given by the three constitutive dimensions of the EU: “European integration”, “National sovereignty”, “Democratic consensus”. Each one is incompatible with the other two.  […]

Eurocrisis Round Two, Blame the Germans Edition

“What strikes me, also, is the extent of intellectual confusion that remains.” – Paul Krugman, Europanic 2.0 “The problem is that Germany has continued to maintain highly competitive labor costs and run huge surpluses since the bubble burst — and that in a depressed world economy, this makes Germany a significant part of the problem.” […]