A uno sguardo superficiale, la decisione di Tsipras di convocare un referendum sulla proposta di accordo dell’Ue sembra irreprensibile….(cont)
Tsipras’ choice : running with the hare and hunting with the hounds
On the surface, Tsipras’ decision to hold a Referendum on the EU agreement proposal seems irreprehensible. This is a crucial decision for Greece which would have far reaching economic and political implications for the next few years (Drachma vs Euro, Russia/EU influence). Democracy requires that the people should decide. This narrative is nonsense. Tsipras has […]
The GREXIT probability
The current state of affairs in the Greece’s drama makes Grexit slightly more likely than the alternative of Greece staying in the Eurozone. The Greek Parliament has just approved the Referendum proposed by Prime Minister Tsipras for voters to approve or reject the creditors’ proposal on July the 5th. Now the unfolding of events looks […]
Greece fast (bank) runners
Guess who is (and has been) running faster out of bank deposits in Greece ? source: @M_-McDonough, via The Daily Shot
What went wrong (and how to fix it) : lesson for Europe from the Greek crisis
On june 3 I took part to the Conference on ” A new growth Model for the Greek Economy” presenting a paper “What went wrong (and how to fix it): lessons for Europe from the Greek crisis”. Here are the slides of my presentation, here is my Voxeu Column and here the version in Italian
Cosa è andato storto in Grecia e come rimediare
La versione in italiano del mio posto si trova qui
Intervista sulla Grecia
Bell’articolo di Vittorio da Rold sul Sole 24 con mia intervista
The Greek Saga and Redemptions
The next two weeks are going to be crucial for the Greek saga. The Frankfurter Allgemeine Zeitung reports that the Greek government has about until the first week of April before running out of cash. Assuming this is true, a deal on reforms will have to be signed off by then. Debt coming due is […]
Percapita Income and Religion
Interesting chart on Religion and Income from Daily Shot
Conversations about Europe (in Italian)
A radio radicale ieri con Tonia Mastrobuoni e Valeria Manieri
Slides of Paper on Fiscal Convergence & Economic Divergence
Here are the slides of my paper on Fiscal Convergence and Economic Divergence in the Euro area, that I presented at the European Parliament (and at the Joint Vienna Institute)
Dal Corriere
Bel pezzo di Danilo Taino sul Corriere di oggi che racconta il mio paper (clicca per ingrandire)
My paper of Fiscal Convergence and Real Divergence in the Euro area
Yesterday I presented a paper at the European Parliament in Brussels in the context of the meeting between the Parliament and the President of the Eurogroup which will take place today. I argue that more fiscal convergence in the Euro area has come at the cost of increasing economic divergence in important economic outcomes, such […]
On Monday at the European Parliament
I will make a presentation next Monday 23/2 at the European Parliament (EP) in Brussels on “Debt sustainability and economic convergence of euro-area Member States: Challenges and Solutions“, in view of a meeting between the EP and the President of the Euro Group. The presentation will concern a paper that the EP has requested me […]
Tsipras vs Merkel: A Sequential Bargaining Approach
The large victory of the Syriza party in Greece, with Tsipras just one seat below absolute majority (see Table 1 below) raises the questions :”What will happen now in the Eurozone? Is a Grexit scenario possible?”My take here is that not much is likely to happen, except some tough bargain between the new government and […]
European Fiscal Policy in 3D
I have discussed here the “new” guidelines on the Stability and growth pact (SGP) issued on January 13 by the European Commission. As many economist, I really enjoy “seeing” things on a graph. So here is the “new” SGP in 3D . On the vertical axis I plot the fraction of GDP a country will […]
The EU new fiscal flexibility guidelines: an assessment
On January 13, the European Commission issued new guidelines, to the European Parliament, the EU Council, the ECB, the EIB, the Economic and Social Committee and the Committee of the Regions, for “making the best use of the flexibility within the existing rules of the Stability and Growth Pact” (SGP). The report underlines that the […]
Strenna Natalizia: Che Cosa Sono i Soldi?
Per una teoria molto semplificata della moneta…Buone Feste! Da “la verità vi prego sul Danaro, AcomeA Sgr, Teatro Parenti, Ottobre 2014, con Anna Bonaiuto, Alberto Foà e Leonardo Previ.
Time to Scrap the Stability and Growth Pact
My piece on the EZ fiscal framework on Voxeu.org is here
The EU Fiscal Framework: The Proof of the Pudding
I have been invited to participate to a round table organized by Bruegel , the Brussels based think-tank, assessing the Fiscal framework in the Eurozone in the present crisis (the complete program is here). In brief, I made the following four points (slides are here). 1) Since 2009 there was an unprecedented fiscal consolidation in […]