EMU

The importance of Spanish-German cooperation in strengthening the EU

The EU is facing enormous economic, social and geostrategic challenges. Internally, it needs to cope with increased inequality (due to the effects of the Great Recession and the Eurozone crisis, but also the impact of new technologies and automation), the flaws in the governance of the Eurozone, Brexit, the [...]

Global Spectator, by Andrés Ortega Macron, champion of European sovereignty

In Emmanuel Macron, France has secured a pro-European President (one might go as far to say romantically pro-European), outstripping François Hollande by some margin in this respect, but in a society that is divided on the issue. It undoubtedly gives some breathing space to the European project and opens [...]

Brexit talk is pushing the City of London closer to Frankfurt

My five years as a PhD student, first in Oxford (Brookes) and then as a post-doc at LSE, have told me that the smart people from the UK, especially those working in the City, see the Euro project thus: European Economic and Monetary Union (EMU) is like a ship [...]

Draghi’s morphine has stalled the Eurozone’s reform efforts

More than three years after the EU leaders agreed to establish a banking union for the Eurozone, and Mario Draghi announced that he was ready to do “whatever it takes” to save the euro it is time to take stock of what has been achieved so far in making [...]

Global Spectator, by Andrés Ortega The euro: uncertainty about tomorrow, but plans for 2025

It may seem a paradox: we do not know what is going to happen to the Greeks and the Eurozone in less than a week, but the EU’s institutions are already thinking and planning ahead for 2025. And yet, they have to do it, come what may as regards [...]

The Odd Anatomy of the Euro

I have spent more than ten years studying the evolution of the European Monetary Union (yes, even my Master dissertation at the University of Manchester written in 2004 was on the single currency). During all this time I have had many moments where I was lost in my thoughts, [...]

Global Spectator, by Andrés Ortega Goodbye to an ever closer EU, or perhaps not?

The Maastricht Treaty (1992) enshrined a formula that was to be repeated in all subsequent basic EU documents: to move towards ‘an ever closer union among the peoples of Europe’. David Cameron wants the principle to be removed the next time the treaties are reformed and, in a reverse [...]

How to fix the euro

The latest Global Go To Think Thanks Report released by the University of Pennsylvania has ranked the joint Elcano-Chatham House-Arel Report ‘How to Fix the Euro: Strengthening Economic Governance in Europe’ as number two in the world for 2013-2014. As two of the co-authors, we are pleased to see that [...]
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