ECONOMIC AND REGULATORY POLICY
Reuniting Europe
Jean Pisani-Ferry
Is Euro-federalism possible, or even desirable? Will German ties to Russia fatally unbalance the EU? Are Europe’s north/south and east/west divides unbridgeable – and thus unavoidable?
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The Eurozone’s Strategy of Pain
Jean Pisani-Ferry Series: Reuniting Europe 
2012-01-25For the third year in a row, the eurozone is the weakest link in the world economy, with concerns mounting about its very viability. But the eurozone is doubling down on austerity, reasoning that no pain in Southern Europe would mean no gain in reform and adjustment.... read Comments: 3 Recommended: 0 Read: 9101
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The Worst and the Best of Austerity
Jean Pisani-Ferry Series: Reuniting Europe 2011-12-15
Austerity is the only option for eurozone countries that no longer have access to capital markets. But, for others, nibbling at the edges of a deficit in the current crisis is at best a sideshow, and at worst a recipe for recession at a time when all signs point to an economic downturn.... read Comments: 9 Recommended: 0 Read: 15161
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The German Hour
Jean Pisani-Ferry Series: Reuniting Europe 2011-11-28A series of events over the last few weeks have set in motion a downward spiral for the eurozone. Unless officials – especially German officials – act fast, financial markets’ verdict will be ruthless.... read Comments: 3 Recommended: 1 Read: 9808
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Three Ways to Save the Eurozone
Jean Pisani-Ferry Series: Reuniting Europe 2011-10-21
Since the summer, the continuing installments of the Greek crisis have concealed a worrying process of fragmentation in the eurozone. The decision to reform the surveillance of governments and banks, and to boost the European Financial Stability Facility, is a welcome response, but the key issue is how to construct a more robust monetary union.... read Comments: 3 Recommended: 1 Read: 12971
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Big Reform in Small Packages
Jean Pisani-Ferry Series: Reuniting Europe 2011-09-23The French presidency of the G-20 has selected reform of the international monetary system as its main priority for the Cannes summit in November. But the effort is bound to be a long march, so the appropriateness of small steps should be assessed from a perspective covering at least the next 10-15 years.... read Comments: 0 Recommended: 0 Read: 8676
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Europe’s Small Steps and Giant Leaps
Jean Pisani-Ferry Series: Reuniting Europe 2011-08-26
Issuing Eurobonds essentially amounts to a “Three Musketeers” (all for one and one for all) approach by letting eurozone countries borrow money in solidarity. But, to work, this strategy requires far deeper political integration than European governments are willing to admit.... read Comments: 3 Recommended: 0 Read: 9380
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Europe’s Last Taboos
Jean Pisani-Ferry Series: Reuniting Europe 2011-07-28Once again, the unthinkable has become necessary in Europe. But, while the pretense that Greece was solvent has been jettisoned, have the last taboos been broken, or will others – say, the reintroduction of a national currency or, conversely, the introduction of Eurobonds – fall as well?... read Comments: 2 Recommended: 0 Read: 10070
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To Repay or Not to Repay Debts?
Jean Pisani-Ferry Series: Reuniting Europe
2011-06-23
For months now, a fight over sovereign-debt restructuring has been raging between those who insist that Greece must continue to honor its signature and those for whom the country's public debt should be partly canceled. Who is right?... read Comments: 3 Recommended: 1 Read: 10458
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The Anglo-Saxon Budget Laboratories
Jean Pisani-Ferry Series: Reuniting Europe 2011-05-31The recent threat of a downgrade of US public debt by the rating agency Standard and Poor’s was a bolt from the blue. Once confined to a few delinquent countries, worries about public debt are now bearing down on the world’s biggest and richest economies.... read Comments: 2 Recommended: 0 Read: 7447
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