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Introductory statement by Mario Draghi, President of the ECB, Brussels, 1 December 2011 President, Honourable members of the European Parliament,
Investors sent Europe’s politicians a painful message last week when Germany had a seriously disappointing government bond auction.
I think this misses a rather fundamental point. Courts in London or New York would be expected to show considerable deference to the principle of sovereign immunity. Issuing paper currency and determining its worth is one of the most central functions of the state and it is entitled to the highest degree of respect from foreign courts.
Games of Chicken, by Tim Duy : The Eurozone is stuck on a path that leads to a very nasty equilibrium.
Does the ECB really have a silver bullet? | Gavyn Davies | Insight into macroeconomics and the financial markets from the Financial Timeson macroeconomics
NICOLAS Sarkozy is causing a big stir after calling on November 8th for a two-speed Europe: a “federal” core of the 17 members of the euro zone, with a looser “confederal” outer band of the ten non-euro members. He made the comments during a debate with students at the University of Strasbourg. The key passage is below (video here , starting near the 63-minute mark)
“I have always found the word “Europe” in the mouths of those politicians who wanted from other powers something they did not dare demand in their own name”.
Exit from comment view mode.
No, one of them is not Silvio Berlusconi’s “bunga bunga” parties. Silvio himself isn’t among those reasons, either. The prime minister said on Tuesday that he’d resign once he ushered some economic reforms through the legislature.
The Eurozone crisis has exposed deep governance deficiencies at two separate levels. One, highlighted by the recent chain of events, is crisis management and resolution.
Italy’s economy has clearly underperformed since it entered the euro – both relative to its peers and relative to the previous decade.
Dani Rodrik has just posted on the same subject I briefly addressed yesterday — why aren’t US states subject to the same stresses facing European nations?
kansen in de crisis
The European Union, and the Eurozone in particular, has impressive institutional achievements to its name. We have a European Parliament, European Commission, European Court of Justice, a set of common regulations that exceeded 100,000 last time I checked (acquis communautaire), and of course the European Central Bank.
20 September 2011 Last updated at 11:17 ET By Kabir Chibber Business reporter, BBC News Protests in Rome over the austerity cuts, the latest in a series of protests across Europe
At 4am today, EZ leaders agreed the rough outline of a package of measures designed to end the EZ crisis. This column argues that a central pillar of the package will not work.