Germany

Global Spectator, by Andrés Ortega Illiberal demagoguery splits Europe at the seams

Some of the EU’s poorly sewn seams are splitting. The rift between North and South, or between creditors and debtors, is still there and has been fully solved following the agreement with Greece. The possibility of a Brexit, with the UK breaking away, is quite real. But the greatest [...]

Few lights in the darkness: The Future of the Euro by Matthijs and Blyth

This an extraordinary book on the Euro and its future paths. It is an absolute must-read because it brings together some of the top scholars in the field who, as a team led by Matthias Matthijs and Mark Blyth, achieve something unusual in the literature: to analyse the multifaceted [...]

Global Spectator, by Andrés Ortega Bad is better than worst, but Europe has lost out in the endeavour

The Eurozone, and by extension the EU, has avoided a serious trip-up with Greece, although the danger is by no means past on what will be a long and difficult road ahead, at a very high cost to the Greeks and to the European project itself. Nevertheless, the third [...]

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 [...]

Global Spectator, by Andrés Ortega Ukraine: the peace hiding behind the ceasefire

If consolidating a ceasefire in the eastern Ukraine will be difficult, making peace will be even more so. Nevertheless, although there are elements for a stable peace in what was negotiated at Minsk, it remains to be seen if, not Russia, but the government in Kiev –and the Ukrainian [...]

The Energiewende and Germany’s Industrial Policy

The Energiewende is bringing about fundamental changes to Germany’s energy mix through short, medium and long term targets. Yet despite numerous studies, there is still a lack of clarity about the driving forces behind this energy transition. Reports of these drivers vary considerably, touching upon affordability, import dependency and [...]

Global Spectator, by Andrés Ortega Greece can’t leave the euro without leaving the EU

When the European Commission says Greece’s membership of the euro is ‘irrevocable’ it is not expressing a political position but a legal reality. Such an eventuality is not foreseen in the treaties: it is legally impossible. The only way out of the Economic and Monetary Union (EMU) would be [...]

How much Spanish sovereign debt does China hold?

After years trying to find out the currency composition of China’s foreign reserves portfolio (a topic mired in the outmost secrecy), I thought finding out who holds Spanish sovereign debt would be an easier job. Not least because we Europeans tend to think or at least pretend we are [...]

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