Future of Europe
New perspectives on Europe’s unfolding financial, economic and political crises
Places hit hardest by austerity cuts were more likely to vote for UKIP and Leave
Austerity has nurtured resentments that will likely make the populist right PVV the biggest winner in the March 15 election — but without the majority or the allies needed to govern
Panic over the impact on German savers of low interest rates and looming inflation neglects to mention that very few Germans are saving much
The Brexit referendum is nothing less than an earthquake. But when an earthquake happens, seismologists try to understand how and why the tectonic plates had been shifting, and the pressures that had been building to bring about the event. The causes underlying every earthquake are specific in how they come together, even if they are seen in different places.
Several days ago, we woke up to a new world. Britain had voted to leave the European Union. Some were pleased, many were deeply concerned. What is likely is that many will be affected. Some wonder if the EU will survive. It will take months if not years to fully understand the ramifications.
The latest austerity deal is terrible for Greece and Europe.
The International Monetary Fund’s chief economist, Olivier Blanchard, recently asked a simple and important question: “How much of an adjustment has to be made by Greece, how much has to be made by its official creditors?” But that raises two more questions: How much of an adjustment has Greece already made? And have its creditors given anything at all?