Search

You searched for: Content Type Journal Article Remove constraint Content Type: Journal Article Political Geography Europe Remove constraint Political Geography: Europe Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Topic Economics Remove constraint Topic: Economics
Number of results to display per page

Search Results

  • Author: Gunther Schnabl
  • Publication Date: 10-2019
  • Content Type: Journal Article
  • Journal: The Cato Journal
  • Institution: The Cato Institute
  • Abstract: Twenty years after the introduction of the euro, the European Monetary Union (EMU) is at its crossroads. Following the outbreak of the European financial and debt crisis in 2008, the European Central Bank (ECB) took comprehensive measures to stabilize the common currency. Interest rates were cut to and below zero and several asset purchase programs have inflated the ECB balance sheet (Riet 2018). Within the European System of Central Banks, large imbalances have emerged via the TARGET2 payments system, which can be seen as quasi-unconditional credit in favor of the southern euro area countries (Sinn 2018). While the ECB terminated its asset purchase program at the end of 2018 and is expected to increase interest rates in late 2019, financial instability is reemerging. Growing uncertainty about the fiscal discipline of the Italian government has triggered a significant increase in risk premiums on Italian government bonds. In particular, in Italy and Greece, but also in Germany, bad loans and assets remain stuck in the banking systems. In the face of the upcoming downswing, European banks do not seem ready for new financial turmoil. In this fragile environment, the future path of the EMU is uncertain. To enhance the stability of the EMU, a group of German and French economists has called for a common euro area budget, for a strengthening of the European Stability Mechanism as lender of last resort for euro area countries and banks, as well as for a common European deposit insurance scheme (Bénassy-Quéré et al. 2018). In response, 154 German economists have warned against transforming the EMU into what they call a “liablity union,” which systematically undermines market principles and wealth (Mayer et al. 2018). In 2018, a French-German initative to introduce a common euro area budget faced strong opposition from a group of northern European countries as well as from Italy, symbolizing the political deadlock concerning reforms of the EMU. This article explains the different views on the institutional setting of monetary policymaking in Europe from a historical perspective. It begins with a description of the economic and monetary order in postwar Germany. It then discusses the positive implications for the European integration process and the economic consequences of the transformation of postwar German monetary order. The final section offers some economic policy recommendations.
  • Topic: Economics, History, Monetary Policy, Reform, European Union, Banks, Currency
  • Political Geography: Europe, Germany
  • Author: Ioannis Salavrakos
  • Publication Date: 08-2019
  • Content Type: Journal Article
  • Journal: Journal of Military and Strategic Studies
  • Institution: Centre for Military, Security and Strategic Studies
  • Abstract: he paper challenges the view that the fall of France in June 1940 is attributed to military errors of the French High Command and with the brilliant German offense in the Ardennes. The paper highlights that the French security strategy after the end of World War I failed because the country lacked the economic basis to implement its strategy. Thus the paper argues that the French endorsed an internal and external balancing strategy against Germany. The internal balancing strategy was associated with the ability of France to sustain powerful armed forces and obviously this was associated with high defense spending and a strong economy. The second part was associated with external balancing which was associated with the creation of alliances in Eastern Europe in order to block any German expansion. Again this was associated with strong economic relations between France and these states. This strategy was implemented during the 1919-1929 period however after the global economic crisis erupted the deterioration of the French economy made the continuation of this strategy impossible. Thus France was forced to follow a defensive strategy at the military level and the privileged bilateral economic relations with Eastern European countries were abolished and Germany replaced France as the major economic and trading partner of these states.
  • Topic: Economics, Regional Cooperation, Military Strategy, World War II
  • Political Geography: United Kingdom, Europe, France, Germany
  • Author: Özgün Sarimehmet Duman
  • Publication Date: 09-2019
  • Content Type: Journal Article
  • Journal: Uluslararasi Iliskiler
  • Institution: International Relations Council of Turkey (UİK-IRCT)
  • Abstract: This article offers an inquiry into the increasing importance of privatisation policies in the European Union (EU). It evaluates the emphasis on international competitiveness and market efficiency to offer a comparative analysis of commodification, marketisation, liberalisation and privatisation policies in the pre- and post-crisis EU. It states that the EU introduced new mechanisms to explicitly promote privatisation policies in its member states after the Eurozone crisis. The article concludes that the EU’s lead in privatisation has functioned as a disciplinary mechanism for the member states to introduce and implement extensive privatisation policies. The EU has tended to consolidate neoliberalism through privatisation after the Eurozone crisis.
  • Topic: Economics, Privatization, Financial Crisis, European Union, Neoliberalism
  • Political Geography: Europe
  • Author: Keith C. Smith
  • Publication Date: 02-2019
  • Content Type: Journal Article
  • Journal: American Diplomacy
  • Institution: American Diplomacy
  • Abstract: President Boris Yeltsin’s imperial views on the “near abroad,” and President Vladimir Putin’s regarding Russia’s alleged “sphere of influence” has left Russia considerably weaker than it would have been otherwise, and the world much more endangered.
  • Topic: Arms Control and Proliferation, Cold War, Diplomacy, Economics, Politics, Armed Forces, Reform, Gas
  • Political Geography: Russia, Europe, Ukraine, Soviet Union, Germany, Estonia, Latvia, United States of America, Baltic States
  • Author: Dimitris Keridis
  • Publication Date: 10-2018
  • Content Type: Journal Article
  • Journal: Uluslararasi Iliskiler
  • Institution: International Relations Council of Turkey (UİK-IRCT)
  • Abstract: The migration and refugee crisis that erupted in 2015 landed recession riven Greece with a series of humanitarian, political, social, and financial as well as foreign policy and security challenges. Following a near disastrous open-borders policy steeped in leftist ideological parochialism, Athens aligned itself closely with Germany in support of the EU-Turkey deal that drastically reduced the human flows from Turkey into the EU and invited NATO naval forces to help monitor the implementation of the agreement. This paper is structured around two parts: the first part describes the immigration and refugee crisis itself, from a global, European and national-Greek perspective; the second part analyzes the risks to and policy responses of Greece and how they relate to the country’s overall geostrategic position, at a time when Europe is being redefined as it struggles to respond to a multitude of challenges.
  • Topic: NATO, Economics, Migration, Refugees
  • Political Geography: Europe, Turkey, Greece
  • Author: Marilena Koppa
  • Publication Date: 10-2018
  • Content Type: Journal Article
  • Journal: Uluslararasi Iliskiler
  • Institution: International Relations Council of Turkey (UİK-IRCT)
  • Abstract: This article explores the role of Greece in the Balkans since the end of Communism and the impact of the sovereign debt crisis that followed. Since the beginning of the 1990s, while Greece failed to accomplish its vocation at the political level, at the level of the economy the country acted as an important regional actor. The article examines the dynamics of the Greek crisis on the Balkan economies and analyses the major challenges for Greece in this new reality. At the same times, it tries to identify the triple crisis faced currently by Greece: at the level of credibility and status, at the level of mediation between the region and the EU and, finally, at the level of the gradual peripherisation of the country.
  • Topic: Debt, Economics, Migration, European Union, Crisis Management
  • Political Geography: Europe, Greece, Balkans
  • Author: Constantine A. Papadopoulos
  • Publication Date: 10-2018
  • Content Type: Journal Article
  • Journal: Uluslararasi Iliskiler
  • Institution: International Relations Council of Turkey (UİK-IRCT)
  • Abstract: The central argument of this essay is that, in order to understand the reasons behind the Greek economy’s inability to recover sooner from its 8-year recession, analysis must focus on the institutional, political and cultural traits of the country rather than take a primarily “economistic” approach and simply blame “excessive austerity” and/or the euro. In fact, it will be argued that Greece’s positive performance under the euro (until government actions derailed the economy) is generally underappreciated, suggesting that if the country’s institutional weaknesses are addressed, the economy will grow. If they are not, the country’s long-term economic potential will almost certainly remain unfulfilled.
  • Topic: Debt, Economics, Financial Crisis, Reform, Global Financial Crisis, Austerity
  • Political Geography: Europe, Greece
  • Author: Robert Cox
  • Publication Date: 09-2018
  • Content Type: Journal Article
  • Journal: American Diplomacy
  • Institution: American Diplomacy
  • Abstract: The Europe-US relationship is based on two pillars: a belief in and a promotion of a rules-based international order; a shared set of common values. Both of these pieces of mortar are crumbling. But the partners are not yet in the divorce court. Meanwhile Europeans increasingly sense that their familiar and otherwise comfortable world has gone.
  • Topic: International Relations, Economics, European Union, Brexit
  • Political Geography: Europe, North America, United States of America
  • Author: Jefferey Bleich
  • Publication Date: 03-2017
  • Content Type: Journal Article
  • Journal: The Ambassador's Review
  • Institution: Council of American Ambassadors
  • Abstract: We grew up in a century defined by the Second Industrial Revolution. Today, that revolution is being eclipsed by a Digital Revolution. The uncertainty that we are experiencing in every aspect of our society is the same disorientation that occurred between 1870 and 1910 when the first Industrial Revolution ended and a second one began. It eventually vaulted nations like America and Australia to the top of the world order. But it also produced the Gilded Age, labor unrest, mass migrations, the Great Depression and two world wars. That era is closing, and we are now experiencing the new great dis­ruption that Silicon Valley promised. Digital technology—while solving crucial problems—is creating or compounding others. It has outstripped the capacity of government to control it and amplified the collapse of public confidence in democratic governments. It has inflamed rivalries between those who benefit and those who don’t. It has undermined standards—of altruism and of civility—that are necessary for us to find common ground. To appreciate this, we have to see where we’ve come from. A hundred and fifty years ago, we went through the same thing. Changes in technology revolutionized media, global integration and demographics. The changes were profound. In 1879, during a three-month period, both the electric light and a workable internal combustion engine were invented. Those two inventions alone produced over the next 40 years a dizzying number of new technologies. The telephone, phonograph, motion pictures, cars, airplanes, elevators, X-rays, electric machinery, consumer appliances, highways, suburbs and supermarkets—all were created in a 40-year burst from 1875 to 1915. Technology fundamentally transformed how people live. We’ve known for a while that the structures created by this Second Industrial Revolution were running their course, at least in advanced economies, and that it was being replaced by a new revolution, the digital revolution. Recently, the pace of these advances has started to build exponen­tially, and the pressure has been mounting. Everyone who has had to throw out their CD player for a DVD player for an iPod for an iPhone for Spotify knows what I mean. Further, the pace at which our world is being changed just keeps accelerating. Every year a new massive theory of disruption emerges: “the digital economy,” “the social network,” “the Internet of things,” “sharing economy” and “big data.” Last year, “machine learning”—where machines teach themselves things we do not know—was the buzzword. The word in Silicon Valley this year is “singularity”—where our species itself is altered by technology (gene-editing, bionics, artificial intelligence), creating a new hybrid species.
  • Topic: Economics, Education, Digital Economy, Higher Education, Digital Revolution
  • Political Geography: United States, Europe, Australia, North America
  • Author: Cristian Constantin
  • Publication Date: 07-2017
  • Content Type: Journal Article
  • Journal: Hiperboreea
  • Institution: Balkan History Association
  • Abstract: The text proper is preceded by a short historical comment on the activity of the International Trade in the Lower Danube region. The exports and imports of Romania, and her commercial relations with the different European countries had been, from their very beginning, organised on a highly individual basis owing to the initiative and according to the interests of private citizens. The report is an extremely important source for all social aspects related to the Brăila harbour, from statistic dates about export and import, agriculture, navigation, and economic realities in the towns. This document is an alternative to the statistical sources published by the European Commission of the Danube and by the Romanian authorities.
  • Topic: Agriculture, Economics, History, Exports, Trade, Imports
  • Political Geography: Europe, Romania