Open Europe Blog

Archives for emu

As the eurozone’s flaws and weaknesses continue to manifest themselves in the midst of the Greek crisis, the appetite for the euro in Europe’s far north is dminishing. In Denmark, the government has been forced to kick a referendum on the country joini…

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EMU holiday

Interesting article from Economics Professor and heavyweight Martin Feldstein in the Financial Times this morning – suggesting a temporary vacation from the single currency might be a plausible solution to the Greek debt crisis.It’s one we haven’t hear…

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Bang on the head

The EU’s finance ministers, and a handful of heads of state, are meeting today in another attempt to come up with answers to the ‘Greek question’. No details are expected to be announced, although an agreed declaration will give Greece a month to get d…

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Eurozone vanity

Latest word is that the eurozone group is holding an emergency video conference this afternoon to discuss Greece’s economic situation and possible ways to go ahead with a much anticipated (read: much feared) bailout of the country. This morning’s press…

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the economic protectorate

So it has happened that the European Commission – aided by new powers in the Lisbon Treaty (article 121) – has effectively taken control over the Greek economy, demanding pay freezes, tax hikes and reforms of labour markets and the country’s healthcare…

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Another twist

Here’s another thought for the weekend.Apart from the legal obstacles (at least on paper) involved in giving emergency support to Greece – something we’ve touched on many times before – there may be a second legal hurdle that EU leaders have to clear …

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As Greece’s troubles continue (save yesterday’s temporary boost), the debate on whether the EU Treaties legally allow the EU to bail out one of its member states rages on. On his blog, the FT’s EU correspondent Tony Barber claims that the “EU possesses…

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You can never leave

A recent legal paper by the European Central Bank deals with the subject: “Withdrawal and Expulsion from the EU and EMU: Some reflections”. It has received quite a bit of attention. Unsurprising, perhaps, given the state of the Greek economy (see h…

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