euro crisis


Italy Is Sick: Another Crisis In Its Illness Could Topple The Euro

Italy is a founding country of Europe and the euro. It has an ailing economy, which is not obvious at first sight, but its political weakness is evident. Italy is sick because of northern Europe’s austerity policies. And it can’t be expected to recover on its own because any crisis in its illness might cause the euro to take a definitive tumble.

Matteo renzi

Italy’s Referendum Could Re-Start A New Euro Crisis

AXA IM | Those wishing for a successful constitutional reform in Italy need to be aware that it could actually trigger a referendum on the euro. Growing nerves here likely explain the widening of the spread between German and Italian bonds as investors try to hedge ‘currency’ risk.


In Greece, UnLuCky for some: Another painful lesson from the euro crisis

ATHENS | By Yiannis Mouzakis via The AgoraNo matter what overall opinion you have of the Greeks, you really ought to hand it to us for tolerance. Over the last year and a half one of the three key players in Greece’s crisis management team has repeatedly and openly admitted that the prescription for addressing the country’s predicament was wrong.

No Picture

Greece: The Looming Threat of a Bigger Hole in Public Finances

ATHENS | Op-ed via Macropolis | A Council of State ruling in January looks to have blown a 500-million-euro hole in the government’s fiscal plans. Now a Supreme Court verdict is threatening to create an even bigger shortfall in Greece’s public finances: the emergency property tax introduced in 2011 and levied through electricity bills was unconstitutional.

Greece in 2014

Greece in 2014: Where are we?

ATHENS | By Nick Malkoutzis at MacroPolis | Greece has entered its year of growth and recovery. At least that is how the government, its eurozone partners and a number of commentators have billed 2014. Many analysts and politicians also insisted last year that the country had begun this upward trajectory. In reality, though, Greece’s narrative was far from linear in 2013. There is no reason to believe this year will be a straight story either.

greece strike public sector

Greece: How Far Can Wages Plummet?

ATHENS | By Kathimerini via Presseurop | Whether they are recent graduates or older workers re-entering the workforce after a period of unemployment, Greeks of all ages must accept lower and lower wages. Recent graduates are not the only ones concerned. There are also those over 40 or 50 years old who have lost their jobs. If they find a new one, they cannot expect to ask for more than €700. How much can pay be reduced?

No Picture

This Time is Not So Different: The Euro Crisis and the 1840s

BERKELEY | By Carola Binder | The author compares the fiscal crisis in the 1840 in the US with what happened in the euro zone. Back in the XIX century state governments in America saw infrastructure projects fail and land values and tax revenue fell further, eroding their fiscal positions, making it harder for them to issue bonds and forcing them to pay higher interest rates. Something similar to what Greece is suffering.