–Dr Marie Julie Chenard is Deputy Head of the Cold War Studies Programme at LSE IDEAS and Academic Officer for the Dahrendorf Symposium Project at the London School of Economics and Political Science. The opinions expressed are her own.–
The Great Debate UK
Up until Monday, Italy used to be known as the sick man of Europe. It has huge debts, sclerotic growth and had been ruled by a billionaire prone to a bunga-bunga parties. It was at risk of becoming the laughing stock of the currency bloc. The relationship in recent years between Italy and Germany has been dreadful. But could things be about to change?
from The Great Debate:
Elections will begin on Thursday across the 28 European Union member states to elect national representatives to the European Parliament, which regulates trade, borders and some elements of foreign policy. Though this is a continent-wide election, voters historically use it to send a message to their own nation’s governing party. With the meteoric rise of anti-European populism on the political left and right, however, things promise to buck that trend this time.
from The Great Debate:
Amid all the doom and gloom about Greece in the last few weeks, it is easy to overlook an important piece of good news: the debt exchange offer published by Greece on Friday with endorsement by its main private and official creditors. If implemented, this would be a major achievement and an important step toward overcoming the euro zone crisis, almost regardless of what happens next.
The euro zone debt crisis has now spread from the sovereigns – after the ECB came in and purchased Italian and Spanish debt – to the banking sector. Although the EU authorities put in place a short-selling ban, which has another week to run, the banking sector is back at the pre-ban levels or in some cases even lower.
Whenever I see photos of Chancellor Merkel these days, I’m reminded of the lugubrious features of the creature in the Restaurant at the End of the World, as it recommended to guests which part of its own anatomy they should eat. The details of the “Deal to Save the Euro” are still mysterious and have been given a misleading spin in the official releases, but one or two points seem clear.