06 April 2020
Corona Constitutional #4: Dies ist nicht die Eurokrise
Warum das Stichwort Corona Bonds so viele falsche Assoziationen weckt, und wie sie beschaffen sein müssten, damit auch Deutschland damit gut klarkommt: Max Steinbeis spricht mit MATTHIAS GOLDMANN über seinen Vorschlag und die damit verknüpften Chancen und Risiken. Continue reading >>
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02 November 2018
Playing the chicken game: The conflict over Italy’s draft budget reveals a construction flaw in the EMU
The next period of nightlong European summits and standoffs between the European institutions and one of its member states is looming: Italy and the EU are at odds about its new budget proposal. This is a result of the setup of the Economic and Monetary Union, which will continue to produce such stalemates as long as dominant countries make common rules for their own sake and others try to circumvent them. Continue reading >>27 October 2018
The Italian Budget Drama – Brussels and Rome on Collision Course
The EU Commission has, for the first time, rejected a budget plan of a member state. While the Italian government drums its chest and the markets get increasingly nervous, the situation remains deadly serious. It is moreover deeply symptomatic of the potential, limits and fundamental shortcomings of the current architecture of Eurozone fiscal governance. Continue reading >>14 November 2017
Losing to the European Union: A Review of Yanis Varoufakis’ Book “Adults in the Room”
Varoufakis gives a detailed account of a saga that gripped international public opinion two years ago, propelled him to international stardom and ended in economic and social disaster for the Greeks. The book is readable and interesting, even if it is full of the author’s familiar hyperbolic statements. It will be of value to anyone with an interest the Eurozone crisis, and especially to British readers who are concerned about Brexit. The parallels between Varoufakis’ ideologically motivated clash with the EU and the British government’s similarly confrontational attitude with the EU are too obvious to miss. Continue reading >>16 August 2017
Summer of Love: Karlsruhe Refers the QE Case to Luxembourg
It seems that the BVerfG has learned a lesson. Yesterday’s referral about the the European Central Bank’s policy of Quantitative Easing (QE) sets a completely different tone. It reads like a modest and balanced plea for judicial dialogue, rather than an indictment. Fifty years after the original event, a new Summer of Love seems to thrive between the highest judicial bodies. It shows no traces of the aplomb with which Karlsruhe presented its stance to Luxembourg three years ago. Continue reading >>13 January 2017
The Ljubljana Initiative for Re-Launching the European Integration
It is a sign of unconventional times when earnest people wish you a less exciting year 2017 compared to the one that has just, luckily, passed. Starting a new year, a less exciting one then, is an opportunity for reckoning about the past and for charting the plans for the future. For those who care about the project of European integration, these are no easy moments. By looking back we are reminded about the chain of crises that has been strangling the Union. By looking forward we cannot help ourselves but to wring hands at what is yet to follow. It is high time that this self-destructive European (indeed Western) narrative and, unfortunately, praxis were put to a halt. It is high time to present a positive alternative to the present status quo and to the populist decay. It is high time to re-launch the process of European integration. Continue reading >>
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09 December 2016
After the Italian Referendum
So much was at stake for Italy, its political class and its economy, and for the European Union (EU) and its member states in the country’s failed referendum on constitutional reform. In the EU, Germany is a particularly sensitive case. The relations between Germany and Italy are a focal point in Europe. They used to be in an asymmetric, albeit comforting, equilibrium. Continue reading >>22 November 2016
The End of the Eurocrats’ Dream
The premise of this timely and important book is that the Euro crisis has placed the EU in an existential predicament that cannot be resolved in the usual fashion of yet more of the same. Though there is surprisingly little by way of a sketch of what might have been the Eurocrats’ dream, the reader is left in no doubt that we are currently living through what might best be termed the Eurocrats’ nightmare – a form of governance that falls far short of the current challenges confronting the EU, and is indeed partly promotive of them. Continue reading >>22 November 2016
The End of the European Union as We Know It
The European Union is facing a political crisis unprecedented in its 59-year history. This club of democratic countries established primarily to promote peace and prosperity in post-war Europe is facing a nationalist and populist surge that threatens the democratic principles at the very heart of the EU. Capitalizing on the European sovereign debt crisis; backlash against refugees streaming in from the Middle East, Brexit and public angst over the growing terror threat, previously fringe political parties are growing with alarming speed. Continue reading >>22 November 2016
The Future of the EU between Independence and Interdependence
Almost all contributions to the collection ‘The End of Eurocrats’ Dream’ touch upon a tension that has been implicit in the integration process from the very start, but has only explicitly manifested itself during the Euro-crisis: the tension between independence and interdependence. This tension is also evident in the refugee crisis, and in (the aftermath of) Brexit: how can we at once accept Member State autonomy (in fiscal policy, border control or deciding on the conditions for EU membership) while at the same time sustaining collective commitments towards, say, a monetary union, Schengen or free movement? Continue reading >>
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