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 […]
Eurozone
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 […]