This article seeks to add to the growing voice calling for an urgent return to the EU’s core values: democracy, prosperity, progress (e.g. Gabriel, 2011; Mallias, 2012a,b). Intra-EU processes of negotiation today, especially in the sphere of the economy, are going against the Union’s ethos, practice and mission. Seeing the peripheral member states changing governments, [...]
Services are the fastest growing component of global trade, covering sectors from architecture to accountancy and jobs from hotel manager to boiler-fitter. Since 1990, the share of Services in GDP has grown from 65 to 72% in developed countries and from 45 to 52% in developing countries. Services account for over 70% of employment in [...]
Resounding from the anti-austerity protests in Greece, we can hear the echo of Sankara — Africa’s own Che Guevara; the hero who defied his creditors.
In today’s Turkish economic reality various forms of accumulated and constantly increasing capital coexist, which should firstly be analysed theoretically and concisely, so that they become absolutely comprehensible in terms of their significance, their interconnection and their expressions. Firstly we make a distinction between the Islamic or green capital on the one hand and [...]
Milton Friedman, the father of Neoliberalism, was an intelligent man without doubt. Already in 1982 he had realized that in order for the citizens of any given state to be persuaded to give up on the welfare provisions they were enjoying, a kind of an emergency situation had to be created: “a crisis –real or [...]
After a year of fiscal adjustment and structural reform, involving many sacrifices, Greece still faces major challenges in a highly adverse and turbulent market environment. Therefore, the better part of wisdom suggests the need for Greece to intensify and accelerate its efforts to build a firm foundation for financial stability and sustainable growth. It [...]
We are possibly entering end game territory in the coming months. The news from bond markets about Greece resembles bulletins about Alpine peeks, not sovereign debt priced within reasonable parameters. Greek three-year bond yields jumped to over 22 per cent this week. Such surreal yield levels are pricing in the restructuring option to [...]
A mechanism of continuous restructuring and forced savings for the Euro zone Since its conception, the European Union has always been about reconciling seemingly irreconcilable positions among its members. In the current environment of the peripheral euro debt crisis, there is one such deadlock on the question of how dearly should the so-called peripheral euro [...]
Read the interview with Prof. Loukas Tsoukalis published in the Japanese daily newspaper Asahi Shimbun GLOBE (8 million). Before the financial crisis struck in 2008-9, the Greeks had hardly any concept of recession. From the beginning of the 1950s until the middle of the 1970s, the country’s average rate of GDP growth was 7-8%; in [...]
Je commencerais par un constat un peu banal, à savoir que la crise est la mère des changements et que, dans le passé, des crises ont joué souvent le rôle de catalyseur d’une intégration plus poussée au niveau européen. Je pense qu’il est fort probable que ce type de phénomène se répète après la première [...]
