Euro crisis

The Eurogroup would not want to start from here

The great irony is that Donohoe now gives Germany a Eurogroup President who embodies Berlin’s own policy inclinations like no other. And yet, the new president will not help with Germany’s goal of keeping the Eurozone united during its stewardship of the EU this year. [...]

Monetary policy isn’t a panacea

In the wake of the financial crisis power shifted from politicians to the ECB, now it’s time for elected governments to address the underlying causes of Europe’s malaise. [...]

An ECB dead end

If you are a born optimist, you may have concluded by now that the euro crisis is over. Indeed, we have not heard much about it lately. No bailouts, no bank runs, no Greek elections. It almost feels like financial stability. If you are a realist, however, you would be looking at two figures and know that we are right in the middle of the euro crisis. [...]

Why Greece is back in crisis mode

Amid all other crises plaguing Europe at the moment, the financial problems engulfing Athens had temporarily slipped off the front pages. However, it was only a matter of time until they resurfaced. [...]

A banking union to pool all risks

It could take a while until European leaders recognise that the answer to the failings of European integration does not always have to be even more integration. [...]

The opposite of Greece

The result of the Portuguese election suggests tough reforms and fiscal austerity can eventually pay off - politically and economically. [...]

Learning from Europe’s mistakes

Europe is suffering from some strange delusions that are less apparent when you live there. That is because certain beliefs and self-images are repeated until they can no longer be questioned without turning yourself into a political pariah. In my new essay, 'Why Europe Failed', I am dealing with some of them. [...]

The roots of Europe’s decline

In the breathlessness of the euro crisis, it is easy to miss the wood for the trees. By looking at individual trouble spots, we may be ignoring the roots of the crisis. [...]