Kemal Derviş
Austere Growth?
WASHINGTON, DC – The German government’s reaction to newly elected French President François Hollande’s call for more growth-oriented polici…
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Austerity is always a bitter pill, and one that a growing chorus of political and business leaders, economists, and voters is refusing to swallow. But, given high debt burdens and rising borrowing costs in many countries, is there a viable alternative to rapid fiscal consolidation? Project Syndicate’s commentators examine the arguments and weigh the evidence.
Austerity and its Discontents
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Laura Tyson
The Wrong Austerity Cure
BERKELEY – Fiscal profligacy did not cause the sovereign-debt crisis engulfing Europe, and fiscal austerity will not solve it. On the contra…
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Kenneth Rogoff
Austerity and Debt Realism
CAMBRIDGE – Many, if not all, of the world’s most pressing macroeconomic problems relate to the massive overhang of all forms of debt. In Eu…
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Lucinda Creighton
Ireland’s Moment of Fiscal Decision
DUBLIN – “The construction of Europe is an art,” former French President Jacques Chirac once said. “It is the art of the possible.” If so, t…
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Joschka Fischer
The Threat of German Amnesia
BERLIN – Europe’s situation is serious – very serious. Who would have thought that British Prime Minister David Cameron would call on eurozo…
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Michael Boskin
Threading the Fiscal Needle
PALO ALTO – Elections often turn on the state of the economy, especially in hard times. When growth and jobs are down, voters throw out incu…
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Joseph E. Stiglitz
After Austerity
NEW YORK – This year’s annual meeting of the International Monetary Fund made clear that Europe and the international community remain rudde…
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Martin Schulz
Europe’s Opportunity in Hollande
BRUSSELS – Rarely has an election resonated so widely across the European Union as the French presidential ballot has done. Rarely has a lea…
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Jean Pisani-Ferry
France and the Netherlands Strike Back
BRUSSELS – In 2005, France and the Netherlands both voted no to a constitutional treaty for the European Union, derailing years of integrati…
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Nouriel Roubini
Europe’s Short Vacation
NEW YORK – Since last November, the European Central Bank, under its new president, Mario Draghi, has reduced its policy rates and undertake…
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