Germany and the crisis of the periphery
Germany has played a major role in every discussion revolving around the current Greek budgetary crisis. Not only has the country been singled out as the biggest creditor, and more generally as Europe’s paymaster, but it has also come under severe criticism for enforcing an export driven economic policy that condemns its European partners to [...]
Europe agrees to boost EFSF – possible implications and problems
Last week brought a breakthrough in the EU’s fight against the lingering eurozone crisis that threatens to bring down the project of the common currency and, as some fear, the whole EU with it. The announcement that European leaders have come to an agreement about boosting the European Financial Stability Facility’s (EFSF) coffers so its [...]
Pantelis Sklias & Georgios Maris: Greek, European or Global Crisis?
In 1991, when the Maastricht Treaty was signed an entirely new economic project was created. The Economic and Monetary Union (EMU) was unique not only because its area, magnitude and extension were unprecedented, but also because the European countries transferred important elements of their political and economic sovereignty to transnational and intergovernmental institutions. In fact, [...]
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