I spent the second half of last week at the conference of the Institute for New Economic Thinking (INET) in Berlin. The central policy topic was – of course – again the euro-crisis. While the vast majority of speakers agreed that the crisis was much more than a simple fiscal solvency crisis (in contrast to what sometimes has been discussed in some German media), there was disagreement on the question how the underlying balance-of-payment crisis could be solved. Interestingly, there were already vastly different claims on what really is going on at the moment in terms of adjustment in the euro periphery. While one speaker claimed that “unit labour costs in Spain continue to rise more quickly than in Germany” another speaker claimed that “in the 2.5 years since the onset of the crisis, Spain has regained already a third of the competitiveness lost in the decade before”.
In fact, the
Chinesische Experten und Intellektuelle analysieren im ECFR-Essayband „China 3.0“ die politischen Trends, die das neue China ausmachen.
The worst case scenario can be avoided by moving power-sharing from paper to reality.
China's relations with its four Northeast Asian neighbours need rethinking
With the prospect of a referendum before 2017, a British Exit from the EU led by a Europhobic elite is a real possibility – with disasterous consequences.
In order to negotiate a meaningful treaty, Europeans need to unify around a negotiating mandate that reconciles their different interests.