Tag Archives: Intergovernmentalism

The Latest Greek Deal – Another Indictment of Intergovernmentalism

This will be a short one about the latest example of the uselessness of intergovernmentalism… So after two failed attempts at finding common ground on Greece on November 13th and on November 20th, the Eurogroup finally came to a provisional … Continue reading

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Merkel and Sarkozy’s Letter to Van Rompuy laying out the Dec 5 Agreement

So I found the joint Franco-German press conference from December 5, at the website of the French Presidency (so in French) and confirmed (08:15 into the video) that the reporters did not misrepresent their statements. Merkel and Sarkozy had no … Continue reading

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Accommodating the ECB and the Democratic Costs of Intergovernmentalism

This post offers a short note clarifying the dynamics of the asymmetric relationship between the ECB and the governments of the Euro-area, its disparity with the USA and the UK and how this explains the lip service that is being … Continue reading

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The latest Franco-German Agreement: Is it enough?

So France and Germany reached what was hailed as yet another “comprehensive agreement” on the reform of the Eurozone fiscal policies. In my opinion this wasn’t that comprehensive an agreement. It was only the last of such several steps since … Continue reading

Posted in Current Events, ECB, Euro-zone Update, European Integration, Sovereign debt Crisis, Uncategorized, Weekly Bond Yield developments in the Euro Area | Tagged , , , , , , , , , , , , , | 3 Comments

The end (of the crisis) is nigh! – On treaty change and Lenders of Last Resort

Another week and another bout of hysteria, as banks warn about the risk of a Euro-breakup due to the upcoming banking crisis. May be that’s to over do it, but clearly it increases the ever unquantifiable risk of that happening. … Continue reading

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Barroso’s Speech: European Orthodoxy, Legislative Proposals and Punching the Chinese

Jose Manuel Barroso, President of the European Commission, gave a speech to the Konrad Adenhaur Foundation (video extracts/full transcript), on the state of the EU. I am not in the habit of following every speech made by EU leaders. There … Continue reading

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The European Crisis Game they play: “Forecasting” the results of the July 21, 2011 Eurogroup meeting

I suppose this post applies to most decisions under crisis, but I suppose that this meeting is what everyone wants to know about. Right? So I’ll have a shot at it… I am actually going to go against everyone and … Continue reading

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Euro Update (27): Repurchases or restructuring? What’s the trade-off?

You may have noticed that I have been spending some time writing about repurchases and debt restructures. I started out by mapping where we were, and more recently, where we are. I considered the options ahead and their apparent consequences … Continue reading

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A € for you thoughts(7): Nouriel Roubini

I believe that this article from Nouriel Roubini, at Project Sindicate, completes the post I previously wrote on the options for restructuring the (Greek) debt. In it he argues that ” A full-blown official bailout of Greece’s public sector (by … Continue reading

Posted in A € for your Thoughts, Current Events, European Interdependences, European National Politics, Sovereign debt Crisis | Tagged , , , | 1 Comment

Thank you Mr Bini Smaghi, but Fiscal Federalism is not Centralisation…

As I mentioned in an earlier post, Mr Lorenzo Bini Smaghi recently gave a speech where he addressed the issue of European Fiscal Union, at length. That post gave a pure report of the speech and made no efforts to … Continue reading

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