dunnettreader + eu_governance   54

Europe's Political Economy: Reading Reviews of Varoufakis's Adults in the Room – ADAM TOOZE
Since it appeared in 2017 Yannis Varoufakis’s Adults in the Room has attracted a number of thoughtful reviews. Broadly, these fall into three camps. The camp to…
EU  EU_governance  Eurozone  financial_crisis  Greece-Troika  political_economy  books  reviews  from instapaper
february 2018 by dunnettreader
Iain Begg - Theresa May’s timeline for Brexit: Canny tactics or Brexishambles? | LSE blogs
Theresa May has stated that the UK will trigger Article 50 before the end of March 2017. Iain Begg writes that while her speech gave some indication of timing, there is still no concrete statement on what kind of relationship the UK would actually like to negotiate with the EU. In the absence of this level of clarity he argues that the process risks turning into a shambles.
Brexit  May_Theresa  EU_governance  UK_politics  Parliament  Parliamentary_supremacy  Brexit-hard  trade-policy  trade-agreements  immigration  from pocket
october 2016 by dunnettreader
Auswärtiges Amt - Federal Foreign Office - Holding Europe together (post Brexit)
Holding Europe together Commenting today (24 June) on the result of the EU referendum in the UK, Foreign Minister Steinmeier said “we must not allow ourselves…
Instapaper  Brexit  EU_governance  Germany  from instapaper
june 2016 by dunnettreader
There are liars and then there’s Boris Johnson and Michael Gove | Nick Cohen
‘Prospered by treating public life as a game’: Boris Johnson leaves his home in Oxfordshire on Saturday.Photograph: Peter Nicholls/Reuters W here was the…
Instapaper  UK_politics  Brexit  Tories  EU  EU_governance  UK_Government  UK_economy  political_press  from instapaper
june 2016 by dunnettreader
Les usages de la peur dans la mondialisation: Entretien avec Zygmunt Bauman - Desaunay, Fœssel and Padis | JSTOR - Esprit 2005
Les usages de la peur dans la mondialisation: Entretien avec Zygmunt Bauman -- Zygmunt Bauman, Cécile Desaunay, Michaël Fœssel and Marc-Olivier Padis, Esprit, No. 316 (7) (Juillet 2005), pp. 71-98 -- Loin d'uniformiser la planète, la mondialisation provoque un morcellement des espaces et une montée de la peur. Comment, dans ces conditions, penser une mondialisation positive qui ne signifierait pas l'abandon de la politique sociale, pensée jusqu'ici dans le cadre de l'État-nation? -- downloaded pdf to Note
interview  jstor  political_economy  globalization  French_intellectuals  French_language  EU_governance  European_integration  global_governance  universalism  fragmentation  competition  status  hierarchy  inequality  inequality-global  nation-state  imagined_communities  welfare_state  neoliberalism  solidarity  social_theory  economic_sociology  economic_culture  social_order  social_democracy  downloaded 
march 2016 by dunnettreader
Cameron’s letter: European views on the UK’s renegotiation | LSE Blog - Nov 2015
On 10 November, David Cameron formally sent a letter to the President of the European Council, Donald Tusk, outlining his aims for the planned renegotiation of…
21stC  2010s  EU  EU_governance  Brexit  British_foreign_policy  UK_Government  UK_politics  from instapaper
november 2015 by dunnettreader
Miriam Sapiro - Transatlantic trade and investment negotiations: Reaching a consensus on ISDS | Brookings Institution - October 2015
Two steps can accelerate this process. First, US and EU negotiating teams should reach agreement on a number of key principles ** There should be a neutral forum for adjudication, independent of the potential for bias inherent in a host state’s legal system.** An arbitration tribunal should operate under established principles of international law with consistency and predictability. ** The arbitrators should be beyond reproach in terms of independence, impartiality, and integrity. ** The tribunal should have the authority to dismiss frivolous and other non-meritorious claims early in the process. ** The proceedings should be transparent and open to the public. ** An option for annulment, and possibly appeal, should be considered. Second, (..) the US and the EU should appoint a senior group of experts to review in detail several of the more provocative proposals that have been put forward by the EU—such as creating an appellate mechanism for TTIP or, more broadly, an international ISDS court. This should be a broad group of experts representing a range of academic, legal, business, public interest, and other expertise, and reflecting deep knowledge of international investment law, arbitration rules, and judicial and regulatory decision-making. To build greater public support, the group should include voices that support modifications as well as oppose them, in an effort to analyze the strengths and weaknesses of the various options, and to identify consensus where possible. -- downloaded pdf to Note
paper  trade-agreements  ISDS  EU  EU_governance  Transatlantic_Trade_and_InvestmentPartnership  transparency  public_goods  investment-bilateral_treaties  investment  FDI  regulation  regulation-enforcement  regulation-costs  regulation-harmonization  environment  public_health  legal_remedies  legal_system  arbitration  international_law  international_political_economy  appellate_review  downloaded 
october 2015 by dunnettreader
Robert Kuttner - America's Collapsing Trade Initiatives | HuffPost blog - Sept 2015
As Kuttner says, these deals are collapsing under their own (lack of) logic -- though the MNCs that would benefit will do their utmost to keep them alive. The ISDS problem is looking increasingly fatal in the EU - a proposal for a "better" dispute resolution forum is being rejected by both the Friends of the Earth and the US Chamber of Commerce. Kuttner also thinks Canada, regardless of who's the next PM, will struggle to swallow it. The most maddening claim is how the MNCs will accept the US "giving away the store" seen from an American angle of jobs and trade deficits, since their foreign manufacturing operations will benefit.
MNCs  Trans-Pacific-Partnership  investor-State_disputes  FX-rate_management  Labor_markets  wages  Pocket  EU_governance  trade  Transatlantic_Trade_and_InvestmentPartnership  US-China  capital_flows  Obama_administration  China-international_relations  trade-policy  trade-agreements  ISDS  unemployment  US_foreign_policy  FX-misalignment  from pocket
september 2015 by dunnettreader
Giuseppe Guarino - response to James K. Galbraith re the "Maastricht coup" thesis - The Future of Europe | The American Prospect - August 2015
Professor Giuseppe Guarino, dean of constitutional scholars and the author of a striking small book (called The Truth about Europe and the Euro: An Essay, available here) on the European treaties and the Euro. Professor Guarino's thesis is the following: “On 1st January 1999 a coup d'état was carried out against the EU member states, their citizens, and the European Union itself. The 'coup' was not exercised by force but by cunning fraud... by means of Regulation 1466/97... The role assigned to the growth objective by the Treaty (Articles 102A, 103 and 104c), to be obtained by the political activity of the member states... is eliminated and replaced by an outcome, namely budgetary balance in the medium term.” -- downloaded pdf from Guarino's site to Note
EU-constitution  EU_governance  elections  political_participation  sovereignty  austerity  democracy  sovereign_debt  subsidiarity  budget_deficit  Maastricht  constitutional_law  representative_institutions  democracy_deficit  Europe-federalism  legitimacy  Germany-Eurozone  downloaded  European_integration 
august 2015 by dunnettreader
Timothy W. Guinnane -A pragmatic approach to external debt: The write-down of Germany’s debts in 1953 | VOX, CEPR’s Policy Portal -13 August 2015
Greece’s crisis has invited comparisons to the 1953 London Debt Agreement, which ended a long period of German default on external debt. This column suggests that looking back, the 1953 agreement was unnecessarily generous given that Germany’s rapid growth lightened the debt repayment burden. Unfortunately for Greece, the motivations driving the 1953 agreement are nearly entirely absent today. -- downloaded pdf to Note
article  sovereign_debt  default  20thC  post-WWII  Germany  international_political_economy  international_finance  international_monetary_system  Greece-Troika  creditors  EU_governance  IMF  international_organizations  structural_adjustment  austerity  economic_growth  downloaded 
august 2015 by dunnettreader
Arvind Subramanian - How the IMF Failed Greece | Project Syndicate August 2015
Grexit should have been on the menu as a realistic option, properly supported with financing the transition, instead of the horrifying unknown for Greece and the Eurozone. Better start planning, since it's likely to come up again, certainly for Greece and possibly other EZ members.
Pocket  Eurozone  Eurocrsis  Greece-Troika  EU_governance  IMF  international_organizations  international_political_economy  international_finance  international_monetary_system  sovereign_debt  from pocket
august 2015 by dunnettreader
Emmanuel Mourlon-Druol - La zone euro est-elle viable? Une perspective historique - La Vie des idées - 20 mai 2014
La crise de la zone euro a révélé les faiblesses constitutives de la monnaie unique ; mais les débats portant sur sa viabilité se limitent trop souvent à une vision purement économique de la zone euro. L’histoire complexe de la création de l’euro éclaire les enjeux financiers et politiques internationaux de l’unification monétaire. -- in many ways it's the same-old, same-old -- a group of countries with intense economic interaction that gets whip-sawed by exchange rates in a constantly evolving world that's increasingly globalized, especially capital movements -- under a series of arrangements from Bretton Woods onwards, they've been trying to manage or mitigate the problem, but they never solve it -- he repeatedly notes that the entire EC budget isn't more than 1% of the aggregate GNP of the member states -- useful aide-mémoire for each step in the evolution of the EU and European money arrangements paralled with each modification of the international monetary system -- though he notes repeatedly that finance is extremely mobile, not only within the Eurozone or within the EU but globally, and that labor and fiscal adjustments are extremely immobile within the Eurozone by comparison, he doesn't draw the obvious link of these severe mismatches to the repeated problems the EU has faced re money -- downloaded pdf to Note
article  economic_history  political_history  European_integration  post-WWII  post-Cold_War  international_monetary_system  Bretton_Woods  EU_governance  FX  FX-rate_management  FX-misalignment  Eurozone  Eurocrsis  Great_Recession  financial_crisis  sovereign_debt  Europe-federalism  EU-regulation  cross-border  Labor_markets  banking  ECB  EU-elections  political_participation  EU-Parliament  EU-parties  monetary_union  monetary_theory  international_economics  capital_flows  capital_controls  EU-fiscal_policy  convergence-econimic  fiscal_policy  Maastricht  downloaded 
july 2015 by dunnettreader
Clément Fontan - La BCE et la crise du capitalisme en Europe - La Vie des idées - 24 février 2015
Selon Clément Fontan, la Banque centrale européenne a outrepassé ses prérogatives et a, sans contrôle démocratique, traité de manière trop différenciée l’aide qu’elle apporte aux États et celle qu’elle alloue au système financier. Mots-clés : Europe | banque centrale | capitalisme | Grèce | euro -- quite helpful for details of how the various powers, decision-making processes and authority in the EU, the Eurozone, the member states, and the ECB interact -- downloaded pdf to Note
article  EU_governance  Eurozone  ECB  Great_Recession  financial_crisis  capitalism-systemic_crisis  finance_capital  financialization  Greece-Troika  Eurocrsis  QE  bank_runs  payments_systems  bailouts  Germany-Eurozone  France  accountability  democracy_deficit  austerity  Maastricht  sovereign_debt  sovereignty  Europe-federalism  European_integration  downloaded 
july 2015 by dunnettreader
Philippe LeGrain - The Eurozone’s German Problem | Project Syndicate - July 2015
Germany keeps remaking the rules so it doesn't have to adjust its current account surplus which is imposing huge adjustment costs and/or stagnation on everybody else -- the response ought to be more democracy at the EU level to bring Germany under control, but the last few years have destroyed that option
Pocket  EU_governance  Eurozone  European_integration  Eurocrsis  Germany-Eurozone  austerity  ordoliberalism  trade-policy  from pocket
july 2015 by dunnettreader
David Beckworth - The Big Lesson of the Eurozone Crisis - July 2015
The Eurozone was a bet on convergence rather than specialization that would push the members further apart - Krugman said the theory would prove specialization -- and he was more right than his worst nightmares
Pocket  economic_theory  monetary_union  convergence-econimic  Eurozone  Eurocrsis  EU_governance  Greece-Troika  European_integration  Krugman  from pocket
july 2015 by dunnettreader
Kevin O'Rourke - Moving on From the Euro | Project Syndicate - July 2915
It's time to face up to the Euro as a failed experiment after 5 years of trying to salvage what was obviously a badly designed plan in the first place. The pain will be vad, but it's only going to get worse going forward
Pocket  macroeconomics  economic_theory  IMF  EU_governance  Eurozone  Eurocrsis  monetary_union  Germany-Eurozone  austerity  ordoliberalism  Greece-Troika  from pocket
july 2015 by dunnettreader
Why German Economic Thought Made the Greek Crisis Inevitable – Tropics of Meta
“Contrary to popular misconception, rules were not meant to be broken” Yesterday, after months of negotiations, Greece’s Syriza government relented to the…
Instapaper  Eurozone  EU_governance  Eurocrsis  Greece-Troika  austerity  Germany-Eurozone  ordoliberalism  economic_theory  Keynesianism  from instapaper
july 2015 by dunnettreader
Stephen Kinsella, Hamid Raza, Gylfi Zoega - Iceland and Ireland: Currency is not destiny | VOX, CEPR’s Policy Portal - 04 July 2015
Iceland and Ireland were both rocked by the fallout of the Global Crisis. This column argues that differences in currency arrangements affected the mechanisms of the boom and the collapse. Iceland’s banks collapsed because they did not have a lender of last resort in euros. Ireland did. But Iceland’s collapse and ensuing capital controls shifted the burden of debt restructuring onto foreign creditors to a much greater extent than in Ireland. -- actually currency is destiny, since Ireland was forced to bear the costs of bailing out private creditors due to membership in Eurozone
paper  financial_crisis  Eurocrsis  Eurozone  sovereign_debt  default  creditors  bailouts  austerity  capital_controls  EU_governance  risk_shifting 
july 2015 by dunnettreader
Nicolas Delalande , review - Wolfgang Streeck, Du temps acheté - La Vie des idées - May 2015
Wolfgang Streeck, Du temps acheté. La crise sans cesse ajournée du capitalisme démocratique, Paris, Gallimard, traduit de l’allemand par Frédéric Joly, 2014 [2013], 400 p., 29 €. -- Ce que la crise a révélé, dit W. Streeck, c’est le divorce consommé de longue main entre la démocratie et le capitalisme. Ce dernier s’est tourné depuis les années 1980 vers les marchés financiers et l’endettement n’a fait que masquer le plus longtemps possible la rupture. Seule issue, selon l’auteur de ce noir diagnostic : la sortie de l’euro. -- downloaded pdf to Note
political_economy  Europe  Eurozone  EU  EU_governance  European_integration  financial_crisis  international_political_economy  international_finance  capitalism-systemic_crisis  sovereign_debt  democracy_deficit  monetary_union  austerity  downloaded 
july 2015 by dunnettreader
Ariadne Lewanska - interview with Pierre Manent - Migration, patriotism and the European agendum - Eurozine - Sept 2011
Original in Polish -- Translation by Irena Maryniak -- First published in Res Publica Nowa 13 (2011) (Polish version); Eurozine (English version) --;A European patriotism can be generated only through political acts that create a sense of solidarity, says historian Pierre Manent. If invocations of Europe are to be anything but vacuous, Europe needs to be decisive in defining its interests and demarcating its boundaries. -- the interview was stimulated by the large waves of intra-EU migration, e.g. the Poles -- downloaded pdf to Note
interview  EU  Europe  EU_governance  European_integration  national_ID  patriotism  migration  assimilation  nation-state  identity-multiple  identity_politics  EU-foreign_policy  downloaded 
july 2015 by dunnettreader
Eurozine - Europe's narrative bias - Erik Hammar - January 2012
Original in Swedish -- Translation by Anna Paterson -- First published in Arena 5/2011 (Swedish version); Eurozine (English version) -- Democracy, humanism and diversity have little to do with a "European inheritance". Yet EU cultural policy instrumentalizes cultural heritage to promote common identity. This narrative bias needs to be challenged, says Erik Hammar. -- EU cultural budgets and priorities being set by right wing pro-EU with focus on "the big 3" of England, France and Germany in languages and efforts to project "soft power" globally -- the purportedly universally shared European heritage and collective identity is "humanism, tolerance and enlightenment"
Europe  EU  culture  cultural_history  cultural_capital  cultural_authority  cultural_transmission  grand_narrative  collective_memory  identity  identity_politics  identity-multiple  national_ID  memory-cultural  Europe-exceptionalism  European_integration  EU_governance  political_culture  nation-state  national_tale  national_origins 
july 2015 by dunnettreader
Krzysztof Pomian - European identity: Historical fact and political problem - Eurozine - August 2009 (original 2007)
An historian can define European identity descriptively, as Krzysztof Pomian demonstrates in a tour of European culture since the first millennium before Christ. But the real controversy lies elsewhere, in the political question: what of the European past is worth preserving? (..) What are we ready to abandon, and what are we attached to so strongly that under no circumstances will we allow ourselves be deprived of? To what extent must the future be patterned according to our expectations, rooted in the past, and to what extent are we ready to leave the shaping of it to forces we do not control, and which seem to be causing a growing estrangement from our familiar ideas about how that future should look? These questions, in many different forms, (..) must be addressed not to historians but to politicians, and in the last instance to the European citizenry, which as ultimate decision-maker must provide an answer. European identity is a historical fact. More and more, it is also becoming a political problem. -- Original in Dutch -- First published in L. Ornstein and L. Breemer (eds.), Paleis Europa. Grote denkers over Europa, as "De Europese identiteit : een historisch feit en een politiek problem", De Bezige Bij: Amsterdam 2007, 29-54 (Dutch version); Transit 37 (2009) (German version). -- downloaded pdf to Note
Europe  grand_narrative  collective_memory  identity  identity_politics  identity-multiple  national_ID  memory-cultural  cultural_history  Europe-exceptionalism  European_integration  EU  EU_governance  political_culture  nation-state  national_tale  national_origins  Roman_Empire  church_history  Christendom  Judeo-Christian  medieval_history  Europe-Medieval  Europe-Early_Modern  Enlightenment  downloaded 
july 2015 by dunnettreader
Eurozine - Where is the power? - Wojciech Przybylski, Bartlomiej Sienkiewicz A conversation with Bartlomiej Sienkiewicz - July 2015
Original in Polish -- Translation by Aleksandra Malecka
First published in Res Publica, Nowa 30 (2015) -- In Europe all political thought is imperialist, says Bartlomiej Sienkiewicz. This means that politics as we know it today incorporates the experience of imperial politics from the sixteenth to the nineteenth century, when the foundations of what we call "the political" were forged. -- downloaded pdf to Note
geopolitics  Europe  Europe-Early_Modern  empires  state-building  nation-state  national_interest  EU  EU_governance  imperial-soft  Germany  Germany-Eurozone  Russia  Russian_foreign_policy  Poland  16thC  17thC  18thC  19thC  20thC  21stC  post-WWII  post-Cold_War  empire-and_business  globalization  sovereignty  hierarchy  authority  public_policy  policymaking  public_opinion  political_culture  downloaded 
july 2015 by dunnettreader
Luca Corchia - Europe: Streeck replies to Habermas, and the debate goes on | Reset Dialogues on Civilizations - April 2014
The task of this brief presentation is to “establish a dialogue” with Streeck’s text, attempting to fill the hiatus between the answer and the original question that Habermas’ interpretation intended to pose to those wishing to simply dispose of economic and monetary union, ending up by dismantling the political and cultural integration project that inspired the founding fathers. -- downloaded pdf to Note
political_economy  international_finance  EU  EU_governance  ECB  Greece-Troika  monetary_union  Eurozone  Habermas  Europe-federalism  European_integration  nationalism  nation-state  national_interest  political_press  political_culture  economic_culture  financial_crisis  finance_capital  Great_Recession  democracy_deficit  public_opinion  downloaded 
july 2015 by dunnettreader
Luca Corchia - Europe: The debate between Habermas and Streeck about the Left and Europe’s future | Reset Dialogues on Civilizations - 25 March 2014
Over the next few months the press and television networks will one again focus on European events, returning the interest of Italian public opinion to these matters, and this will take place on the basis of the pressing timeframe dictated by political issues. In a few weeks’ time the election campaign for a European Union’s parliament, scheduled for May 22-25, will be fully under way in all 28 member states. -- check out footnotes -- downloaded pdf to Note
EU  EU_governance  Eurozone  ECB  Great_Recession  financial_crisis  Greece-Troika  democracy  democracy_deficit  legitimacy  elections  capitalism-systemic_crisis  capitalism-varieties  capital_as_power  Eurosceptic  European_integration  elites  elites-self-destructive  parties  social_democracy  right-wing  nationalism  nation-state  national_interest  political_press  political_culture  economic_culture  Habermas 
july 2015 by dunnettreader
Jürgen Habermas - Re Wolfgang Streeck - Freedom and Democracy: Democracy or Capitalism? | Reset Dialogues on Civilizations - 1 July 2013
1st of a back-and-forth with Streeck and others -- Freedom and Democracy: Democracy or Capitalism? On the Abject Spectacle of a Capitalistic World Society fragmented along National Lines -- In his book on the deferred crisis of democratic capitalism Wolfgang Streeck develops an unsparing analysis of the origins of the present banking and debt crisis that is spilling over into the real economy. This bold, empirically based study developed out of Adorno Lectures at the Institute of Social Research in Frankfurt. At its best—that is, whenever it combines political passion with the eye-opening force of critical factual analysis and telling arguments—it is reminiscent of The Eighteenth Brumaire of Louis Napoleon. It takes as its starting point a justified critique of the crisis theory developed by Claus Offe and me in the early 1970s. The Keynesian optimism concerning governance prevalent at the time had inspired our assumption that the economic crisis potential mastered at the political level would be diverted into conflicting demands on an overstrained governmental apparatus and into “cultural contradictions of capitalism” (as Daniel Bell put it a couple of years later) and would find expression in a legitimation crisis. Today we are not (yet?) experiencing a legitimation crisis but we are witnessing a palpable economic crisis.
political_economy  political_philosophy  international_political_economy  capitalism-systemic_crisis  capital_as_power  finance_capital  financialization  Great_Recession  democracy  democracy_deficit  legitimacy  nationalism  financial_crisis  sovereign_debt  social_theory  globalization  global_governance  political_culture  economic_culture  stagnation  economic_sociology  Habermas  post-secular  Eurozone  European_integration  monetary_union  EU_governance  EU  Europe-federalism  downloaded 
july 2015 by dunnettreader
Emile Chabal & Stephan Malinowski - Can Britain be European? Beyond the "Historians for Britain" Manifesto - Books & ideas - 22 June 2015 (French June 19)
an article by (..) David Abulafia, boldly entitled ‘Britain: apart from or a part of Europe?’, published online in early May 2015 in the popular history journal History Today. (..) plainly restated the Eurosceptic ideology that lies at the heart of the Historians for Britain campaign, (..) If the piece had been limited to this rather unremarkable argument, it would probably have sunk without trace. But...it was intended as a historical narrative of British exceptionalism. (..) Unlike in 2013, the reaction this time was instantaneous. An open letter to History Today – signed by over 250 historians – denounced the historical inaccuracies and elisions in Abulafia’s piece. Another group of historians announced the creation of an online counter-group called Historians for History. Even the national press picked up on the controversy in a series of articles and editorials. But, while many of these attacks on the Historians for Britain manifesto have (rightly) focused their attention on correcting the numerous errors and simplifications in the text, there is a strong case to be made for unpacking, not simply the details of the manifesto, but also its underlying assumptions – none of which can be understood in isolation from the British experience of the nineteenth and twentieth centuries. In particular, we would like to draw attention to two assumptions that reveal a good deal about the way British history is taught and disseminated: first, a myth of continuity and stability; and, second, the celebration of British exceptionality. -- downloaded English version pdf to Note (both at U of Edinburgh)
British_history  UK_politics  EU  EU_governance  Europe-19thC  19thC  20thC  British_Empire  Eurosceptic  Tories  historians-and-politics  bad_history  downloaded 
july 2015 by dunnettreader
Arthur Goldhammer - The Old Continent Creaks | Democracy Journal: Summer 2015
not so long ago (the EU) was praised by some as a model of ingenious institutional innovation and cooperative transnational governance, while simultaneously denounced by others as an insidious instrument for subjecting ostensibly democratic states to the imperious dictates of capitalism in its latest “neoliberal” form? For 2 generations after World War II, memories of the devastating consequences of nationalism trumped economic rivalries, giving technocrats maneuvering room to devise continental strategies for economic growth that nevertheless enabled member states to maintain sufficient control over social policy to satisfy voter demands. For decades, this arrangement held.By the mid-1980s, however, enormous changes in the global economy forced the European Community to reinvent itself in order to remain competitive. The original balance between national sovereignty and technocratic government at the European level was altered, limiting the ability of member states to set their own economic policy. But today’s convergent crises raise the question of whether the European Union that replaced the European Community needs to reinvent itself yet again. And if so, is reinvention possible at a time when many Europeans, and especially those for whom World War II is a distant memory, feel that the EU is exacerbating nationalist enmities rather than calming them? -- downloaded pdf to Note
article  Europe  20thC  21stC  EU  EU_governance  technocracy  nation-state  nationalism  regional_blocs  sovereignty  democracy_deficit  political_participation  opposition  globalization  competition-interstate  Eurozone  economic_policy  fiscal_policy  monetary_policy  sovereign_debt  downloaded 
july 2015 by dunnettreader
interfluidity » Greece - July 2015
Steve Randy Waldmann -- his 1st take on what's been going on, and how the Eurozone gives all the power to creditors, which produces a bunch of terribly misaligned incentives -- and what business bankruptcy law guards against
Instapaper  EU  EU_governance  Eurozone  ECB  Great_Recession  financial_crisis  Greece-Troika  IMF  bailouts  political_economy  democracy_deficit  austerity  bank_runs  central_banks  lender-of-last-resort  international_organizations  international_finance  creditors  bankruptcy  incentives-distortions  sovereign_debt  default  from instapaper
july 2015 by dunnettreader
Karl Whelan - The Grexit Mechanism: What It Means For The Future Of the Euro | Medium - June 26 2015
Greek crisis exposes cracks in the euro’s design that won’t be fixed by Greece leaving. Despite the euro’s legal status as an irrevocable currency union, the… Nice review of the tangle of economic, political and legal issues -- Default isn't by itself enough to force Grexit, so it's really what political stance the ECB takes, and even with Grexit there are the other members of the Eurozone suffering from similar problems as Greece -- Whelan: In recent years, the single most important factor that has papered over the cracks in the euro has been Mario Draghi’s “whatever it takes” commitment to preserve the euro. But if whatever-it-takes doesn’t prevent a Greek exit, there would be serious questions about what kind of euro the ECB was actually willing to bother preserving. Worth remembering is that what Draghi actually said was: "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough." The “within our mandate” bit has provided Draghi with plenty of wiggle room to decide what kind of euro he wants to preserve. It clearly doesn’t have to be one that includes Greece. And there may be others that get jettisoned. Whether this kind of a la carte euro will survive the test of time is highly questionable.
Instapaper  Eurozone  EU  ECB  EU_governance  Europe-federalism  monetary_policy  FX  lender-of-last-resort  Greece  Greece-Troika  IMF  sovereign_debt  banking  bank_runs  austerity  FX-misalignment  Spain  Portugal  Italy  political_economy  international_finance  international_monetary_system  from instapaper
june 2015 by dunnettreader
Martens, Rusconi and Leuze, eds. - New Arenas of Education Governance: The Impact of International Organizations and Markets on Educational Policy Making | Palgrave Macmillan - November 2007
Edited by Kerstin Martens, Alessandra Rusconi, Kathrin Leuze -- How and to what extent is education becoming a field of international and market governance? Traditionally, education policy making has been viewed as the responsibility of the nation state, falling within the realm of domestic politics. But recent years have witnessed the transformation of the state. Globalization has introduced new actors and led to the internationalization and marketization of education. This volume provides the most comprehensive and up-to-date account of these new arenas of education governance, examining the impact of international organizations and the role of the market in policymaking. It demonstrates how education policy is formulated at international levels and what the consequences for national policy making will be. -- excerpt = TOC, Introduction and index -- downloaded pdf to Note
books  public_policy  education  education-higher  education-training  education-privatization  education-finance  international_organizations  globalization  markets_in_everything  market_fundamentalism  privatization  public_goods  governance  global_governance  business-and-politics  business_influence  education-civic  values  accountability  Labor_markets  human_capital  competition  competition-interstate  development  distance_learning  IT  communication  nation-state  national_ID  knowledge_economy  OECD  World_Bank  WTO  trade-policy  trade-agreements  student_debt  democracy_deficit  political_participation  EU  EU_governance  standards-setting  testing  downloaded 
may 2015 by dunnettreader
Giovanni Dosi, et al -Fiscal and Monetary Policies in Complex Evolving Economies -- 2013 :: SSRN
Giovanni Dosi, Giorgio Fagiolo, Mauro Napoletano, Andrea Roventini, Tania Treibich -- In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated by heterogeneous capital- and consumption-good firms, heterogeneous banks, workers/consumers, a Central Bank and a Government. We show that the model is able to reproduce a wide array of macro and micro empirical regularities, including stylised facts concerning financial dynamics and banking crises. Simulation results suggest that the most appropriate policy mix to stabilize the economy requires unconstrained counter-cyclical fiscal policies, where automatic stabilizers are free to dampen business cycles fluctuations, and a monetary policy targeting also employment. Instead, "discipline-guided" fiscal rules such as the Stability and Growth Pact or the Fiscal Compact in the Eurozone always depress the economy, without improving public finances, even when escape clauses in case of recessions are considered. Consequently, austerity policies appear to be in general self-defeating. Furthermore, we show that the negative effects of austere fiscal rules are magnified by conservative monetary policies focused on inflation stabilization only. Finally, the effects of monetary and fiscal policies become sharper as the level of income inequality increases. -- Pages in PDF File: 38 -- Keywords: agent-based model, fiscal policy, monetary policy, banking crises, income inequality, austerity policies, disequilibrium dynamics -- downloaded pdf to Note
paper  SSRN  macroeconomics  fiscal_policy  fiscal_drag  austerity  Eurozone  EU_governance  EU  equilibrium  financial_crisis  bank_runs  inequality  countercyclical_policy  agent-based_models  complexity  recessions  dynamic_attractors  complex_adaptive_systems  downloaded 
april 2015 by dunnettreader
Ashoka Mody - Living (dangerously) without a fiscal union | Bruegel.org - March 24 2015
The euro area’s political contract requires member nations to rely principally on their own resources when confronted with severe economic distress. Since monetary policy is the same for all, national fiscal austerity is the default response to counter national fiscal stress. Moreover, the monetary policy was itself stodgy in countering the crisis, and banking-sector problems were allowed to fester. And it was considered inappropriate to impose losses on private sector creditors. Thus, the nature of the incomplete monetary union and the self-imposed taboos led deep and persistent fiscal austerity to become the norm. As a consequence, growth was hurt, which undermined the primary objective of lowering the debt burden. To prevent a meltdown, distressed nations were given official loans to repay private creditors. But the stress and instability continued and soon it became necessary to ease the repayment terms on official loans. When even that proved insufficient, the German-inspired fiscal austerity was combined with the deep pockets of the European Central Bank. The ECB’s safety net for insolvent or near-insolvent banks and sovereigns, in effect, substituted for the absent fiscal union and drew the central bank into the political process. -- downloaded pdf to Note
paper  Great_Recession  Eurozone  fiscal_policy  monetary_policy  austerity  ECB  banking  financial_system-government_back-stop  financial_crisis  too-big-to-fail  creditors  sovereign_debt  financial_regulation  capital_adequacy  capitalization  bailouts  bail-ins  debt-restructuring  debt  debt_crisis  debt-seniority  deleverage  political_economy  EU_governance  monetary_union  downloaded 
april 2015 by dunnettreader
Kenan Malik - AS I WAS SAYING ABOUT UKIP… | Pandaemonium October 2014
The debate abound UKIP swirls unabated after its success in winning the Clacton by-election from the Conervatives, and in almost winning Heywood and Middleton from Labour. There remains considerable confusion about the nature of the UKIP phenomenon (the clarifying work of academics such as Matthew Goodwin and Rob Ford has been useful here). There is even greater confusion over how to challenge it. I have been writing about UKIP and immigration for a while now. So I thought I would pull together the main themes of that writing, to set out the main arguments from my previous articles about UKIP and the challenge that it poses. -- with the Lib-Dems in the coalition, they're no longer the safe protest vote -- and the UKIP phenomenon is more a matter of disaffection from all the mainstream politics than a classic "protest vote" -- links to a series of posts that also reflects on the Scottish vote, EU protest parties and the "left behind" that are politically disaffected but their "politics" is cultural and tribal rather than traditional class-based or typical left-right ideology patterns
21stC  UK_politics  EU_governance  parties  right-wing  elections  links 
october 2014 by dunnettreader
Ruben Andersson - TIME TO UNFENCE OUR VIEW OF MIGRATION | Pandaemonium
Ruben Andersson is an anthropologist at LSE’s Civil Society and Human Security Research Unit, and the author of Illegality, Inc: Clandestine migration and the business of bordering Europe. He recently published a post on the LSE politics blog which described how immigration border fences feed the very problem they supposedly address. I am delighted to be able to republish it on Pandaemonium.
Ruben Andersson -- Migration panic is upon Calais yet again. Amid desperate and determined attempts by refugees and migrants to clamber over fences or scramble to reach UK-bound ferries, the media have over the past month painted a picture of yet another impending invasion. Police have launched crackdowns; far-right extremists have massed on the city; and French politicians have lobbied hard for a stronger British involvement in controls. In response to the chaos, the UK first offered to send France the ‘ring of steel’ fences recently used at the NATO summit; now it has pledged £12m over three years, earmarked – among other things – for the building of robust security barriers around Calais port. Fencing, the UK immigration minister has made clear, is one key element in efforts to ‘send out a very clear message… [that] Britain is no soft touch when it comes to illegal immigration’. -- Ruben Andersson’s book Illegality, Inc will be launched at the LSE on 14 October with a public discussion, Secure the borders: The cost and consequences of Europe’s ‘fight against irregular migration’. He tweets at @Ruben_Andersson. -- lots of links including absurd US SBI
21stC  nation-state  geography  migration  Labor_markets  EU  EU_governance  right-wing  EU-foreign_policy  US_government  US_politics  links 
october 2014 by dunnettreader
TTIP: EU proposal will weaken regulation of banks | Corporate Europe Observatory - July 2014
A leaked document shows the EU Commission is spearheading a campaign for the interests of the financial sector at the negotiations with the US on a free trade and investment agreement (TTIP). The result could endanger reforms made since the financial crisis, and invoke another era of risky deregulation. The EU is going for a trade deal with the US that will weaken financial regulation on both sides of the Atlantic. That is the conclusion of Corporate Europe Observatory (CEO) and SOMO after taking a close look at the leak of a confidential EU proposal tabled at the negotiations by the European Commission in March 2014. The document follows long discussions between the EU and the US about whether the Transatlantic Trade and Investment Partnership (TTIP) is to include a specific mechanism on financial regulation. So far, the US has declined, allegedly out of fear that such a mechanism would weaken existing financial regulation and prevent future such reforms. -- downloaded pdf of leaked negotiating document to Note
Transatlantic_Trade_and_InvestmentPartnership  EU_governance  EU-foreign_policy  financial_regulation  regulation-harmonization  banking  derivatives  NBFI  shadow_banking  capital_markets  risk-systemic  international_political_economy  international_finance  trade-agreements  trade-policy  downloaded  EF-add 
september 2014 by dunnettreader
Leaked document shows EU is going for a trade deal that will weaken financial regulation | Corporate Europe Observatory
According to a leaked document, the EU is bent on using the TTIP negotiations with the US to get an agreement on financial regulation that, according to this analysis by Kenneth Haar of Corporate Europe Observatory (CEO) and Myriam Vander Stichele of The Centre for Research on Multinational Corporations (SOMO) will weaken reform and control of the financial sector. If the EU has its way, a final agreement between the EU and the US to establish a free trade and investment agreement the Transatlantic Trade and Investment Partnership (TTIP) will weaken regulation and raise obstacles to much needed reform of the financial sector. That is the conclusion after the leak of an EU proposal for so-called “regulatory cooperation” on financial regulation.1 tabled by the EU in March 2014. Regulatory cooperation is a continuous process of ironing out disagreements and differences between the two Parties to ensure agreement on what constitutes legitimate regulation – which in this case, would serve the interests of the financial industry. In the document, the EU suggests a number of mechanisms that will both scale back existing regulation, and prevent future regulation that might contradict the interests of financial corporations from both sides of the Atlantic. The leak follows news that EU negotiators have increased political pressure on the US to accept negotiations on “financial regulatory cooperation", which the US negotiators have so far refused. -- lengthy analysis with tons of links to coverage of the issues in financial press -- downloaded pdf to Note
US_politics  US_economy  US_foreign_policy  Obama_administration  EU  EU_governance  Transatlantic_Trade_and_InvestmentPartnership  financial_system  financial_regulation  international_finance  banking  capital_markets  NBFI  leverage  too-big-to-fail  bailouts  derivatives  lobbying  regulation-harmonization  cross-border  trade-agreements  trade-policy  MNCs  transparency  accountability  civil_society  central_banks  downloaded  EF-add 
september 2014 by dunnettreader
Who lobbies most on TTIP? | Corporate Europe Observatory - July 2014
Do you wonder which businesses are pushing most for the proposed EU-US trade deal TTIP? Or where they come from? And who has most access to EU negotiators? CEO’s at-a-glance info-graphics shine a light on the corporate lobby behind the TTIP talks. -- downloaded pdf to Note
Transatlantic_Trade_and_InvestmentPartnership  big_business  MNCs  interest_groups  trade-agreements  trade-policy  EU_governance  EU-foreign_policy  investor-State_disputes  FDI  agriculture  pharma  IP  regulation-harmonization  civil_society  downloaded  EF-add 
september 2014 by dunnettreader
Commission ISDS reform plan is an echo chamber of business views | Corporate Europe Observatory
In the face of fierce opposition to its plan to enshrine far-reaching rights for foreign investors in the EU-US trade deal, the Commission is trying to appease the critics with a ‘reform’ agenda for investor-state arbitration. The reforms are remarkable in line with the big business lobby agenda. -- 4 page chart comparing business group positions, EC lingo and Corporate Europe's comments on each position -- downloaded pdf to Note
investor-State_disputes  dispute_resolution  arbitration  global_governance  comparative_law  legal_system  EU-law  Transatlantic_Trade_and_InvestmentPartnership  trade-agreements  trade-policy  EU_governance  EU-foreign_policy  MNCs  civil_society  FDI  big_business  power-asymmetric  regulation-harmonization  downloaded 
september 2014 by dunnettreader
Getting Action Strategy Check: Confronting ‘corporate super-rights’ in the TTIP | The Democracy Center - April 2014
The European Commission’s public consultation on the inclusion of the investor-state dispute settlement (ISDS) mechanism in the investment chapter of the Trans-Atlantic Trade and Investment Partnership (TTIP) is clearly a result of growing citizen concern and civil society pressure. Even though the scope of the Commission’s consultation has come in for severe criticism from civil society groups, the high profile that this issue has garnered in Europe in recent months represents a unique opportunity for campaigners. In order to facilitate a strategy conversation among activists and civil society groups on ISDS in the TTIP campaign, the Network for Justice in Global Investment – a core Democracy Center project – recently interviewed two people at the center of campaigns on both sides of the Atlantic: Pia Eberhardt from the Corporate Europe Observatory and Arthur Stamoulis from the Citizen’s Trade Campaign in the United States. (The complete interview transcripts can be found here and here.) We began by asking them what strategic opportunities and challenges they see for campaigners given the current high profile of investment rules and ISDS in Europe.
investment-bilateral_treaties  investor-State_disputes  power-asymmetric  democracy  FDI  MNCs  international_political_economy  global_governance  trade-agreements  trade-policy  US_economy  US_foreign_policy  EU  EU_governance  Transatlantic_Trade_and_InvestmentPartnership  grassroots  unions  civil_society 
september 2014 by dunnettreader
Simon Wren-Lewis - mainly macro: Taylor rules: the ZLB and Euro Diversity - July 2014
Where is the ECB’s policy too tight? There are the obvious countries: Spain, Portugal, Italy and especially Greece. But there is another, which is the Netherlands. There is no mystery here: CPI inflation is currently (May) 0.8%, the harmonised rate is 0.1%, and unemployment has been over 7% this year, compared to an average of below 4% from 2000 to 2007. As the Netherlands does not have an independent monetary policy, it desperately needs a countercyclical fiscal policy, yet instead it is locked into the austerity trap imposed by the Eurozone’s fiscal rules. All of this was horribly predictable, which is why I wrote these posts: May12, Sept12, June13, Dec13. These fiscal rules are not going to be abolished anytime soon, even though their intellectual rationale has disappeared. The best that we can hope for is that their impact can be softened or partially circumvented by allowing additional public investment spending: see Reza Moghadam from the IMF here, or Wolfgang Münchau here and here, Guntram Wolff here, or Mariana Mazzucato here. But if in the future anyone wants to see the clearest example of where these rules led to large and completely unnecessary social costs, just look at the Netherlands. -- lots of links
macroeconomics  monetary_policy  fiscal_policy  EU  EU_governance  ECB  Eurozone  Great_Recession  austerity  links 
july 2014 by dunnettreader
Stephan Lehne - Time to Reset the European Neighborhood Policy | Carnegie Europe Feb 2014
Through its European Neighborhood Policy (ENP), the European Union (EU) aims to support the structural transformation of its Eastern and Southern neighbors, promoting democracy, the rule of law, and successful market economies. Ten years after the ENP’s launch, it is clear that the policy is not working. Adjusting the ENP to the changing reality on the ground, sharpening its tools, and rebuilding its credibility should be a top priority for the EU’s foreign policy leadership.
Europe  EU  EU_governance  balance_of_power  geopolitics  Russia  MENA  Eastern_Europe  IR 
march 2014 by dunnettreader
PONZI AUSTERITY: A definition and an example | Yanis Varoufakis
Ponzi austerity is the inverse of Ponzi growth. Whereas in standard Ponzi (growth) schemes the lure is the promise of a growing fund, in the case of Ponzi austerity the attraction to bankrupted participants is the promise of reducing their debt, so as to liberate them from insolvency, through a combination of ‘belt tightening’, austerity measures and new loans that provide the bankrupt with necessary funds for repaying maturing debts (e.g. bonds). As it is impossible to escape insolvency in this manner, Ponzi austerity schemes, just like Ponzi growth schemes, necessitate a constant influx of new capital to support the illusion that bankruptcy has been averted. But to attract this capital, the Ponzi austerity’s operators must do their utmost to maintain the façade of genuine debt reduction.

Ponzi austerity’s inventor: The Eurozone’s great and good
Great_Recession  Eurozone  austerity  ECB  capital_markets  sovereign_debt  EU_governance  IMF 
november 2013 by dunnettreader

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