Opinion: The European Union and the true meaning of liberalism
The conservative-leaning EU governments in Central Europe have been bombarded with ideological accusations from “liberal” capitals farther west, but the Union’s truly dangerous division is between responsible and irresponsible approaches to governance and fiscal policies among the member states. A common finance ministry and money transfers would not fix this fundamental problem.
Is a European Monetary Fund needed?
In December, the European Commission will publish its proposal to establish a European Monetary Fund. From a strictly economic point of view, such a fund is not needed. There are plenty of political reasons, however, with Germany, France and the EC all pursuing their own contradictory goals. That makes it likely that an EMF will eventually be created, even though it will amount to little more than the existing European Stability Mechanism.
Opinion: The day Europe goes bankrupt
You may not be able to see it, but Europe’s biggest economies have piled up enormous amounts of pension debt. The European Central Bank’s policy of target credits and quantitative easing has only made things worse. With politicians seemingly determined not to notice, a systemic implosion may be inevitable.
GIS Dossier: The strangely resilient euro
The euro has been remarkably stable during its 15-year existence as a major currency. That has not always been a good thing for the European economy. But the real concerns for the single currency hinge on politics and survival.
Roads out of Rome
European Commission President Jean-Claude Juncker came up with an uninspiring set of scenarios in his latest White Paper. But the debate it kicks off, to be continued at the Rome Summit on March 25, could present a real chance to reorganize the European Union and make it more competitive.
EU’s Schengen area under threat
The future of the Schengen area, one of the crowning achievements of European integration, is increasingly clouded as European Union member states are imposing temporary border restrictions to stave off perceived security threats from migrants and terrorists. The economic cost of dropping Schengen could be debilitating, but the path to a full return of the control-free zone is strewn with formidable obstacles.
Outlook for French economy goes negative
French President Nicolas Sarkozy finally threw his hat into the ring for the April presidential election as most figures spelled out bad news for the economy, job losses and unemployment. Ratings agency Moody's gave France a negative outlook in the mid-term and figures showed a huge trade deficit for 2011 even though the economy grew by 1.7 per cent. ...
Reform the rules to stabilise eurozone economies
World economies have been buffeted for more than a year by the debt and banking crises in Europe and the United States. Here GIS economics expert, Professor Dr. Christoph Schaltegger, suggests New Year resolutions to stabilise the economies. He proposes economic reform and ways of creating an orderly exit from the eurozone. ...