FEPS Fresh Thinking

The current crisis almost brought us to a dead end – certainly more evident in the US and Europe than perhaps in the other continents. But nevertheless the situation is frightening. Europe seems to be crumbling; the sovereign debt crisis threatened the whole European project. In Spain, in Britain and elsewhere the youth no longer… » read more

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Posted by Ernst Stetter

Newspapers all over Europe, political observers and politicians are gloomy of late. For example Le Monde’s headline tells us that Greece has another 10 days to avoid the worst. The Financial Times published in a post by Gideon Rachman that a political union cannot fix the Euro! Frankfurter Allgemeine Zeitung argues that the German taxpayer… » read more

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Posted by Ernst Stetter

Even before the next hearing on Friday this week, the allegations against the head of the IMF are obviously challenging for the future of the IMF and, in the international press, discussion continues over possible successors of Dominique Strauss-Kahn. However, we should be aware that the question of the successor would have been in any… » read more

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Posted by Ernst Stetter

Portugal negotiated without much noise its bail-out deal with the EU and the IMF. Portugal will receive €78 billion in loans, including up to €12 billion for the banking sector. The loans will span until 2013, after which Portugal is expected return to the markets to finance it. The interest rate Portugal will pay on… » read more

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Posted by Ernst Stetter

The Group of 20 Finance Ministers and Central Bankers who met last Friday in Washington took only a small step towards monitoring “international economic imbalances” among the world’s leading trading nations. They agreed on a set of so called “indicative guidelines” with which to measure those imbalances and to strengthen coordination in order to avoid… » read more

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Posted by Ernst Stetter

Last week in New Delhi I had talks with politicians, journalists, diplomats and scientists on Indo-European relations. Europe is seen as an example of successful integration! India is looking with great interest towards Europe. Compared with the critical reflections on Europe, published yesterday by the outstanding German philosopher Juergen Habermas Süddeutsche Zeitung, this is a… » read more

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Posted by Ernst Stetter

Last week’s European Council took the decision to undertake stress tests for all existing European nuclear power plants by the end of the year. After these tests, the decision will be taken as to whether the security is sufficient to run the different nuclear power plants! But all experiences show that such a policy decision… » read more

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Posted by Ernst Stetter

The recent peremptory statement of the President of the European Central Bank (ECB) on the increase of wages (“the worst thing to do at the present moment”) illustrates the point at which the “TINA” (there is no alternative) mentality came into being in European economic circles. Therefore, there would only be one way to exit… » read more

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Posted by Ernst Stetter