Can entrepreneurship be encouraged in Europe without changing the continent’s social welfare policies? Will Europe over-regulate finance in response to the crisis of 2008? Is Italy the new “sick man of Europe”? Has Europe neglected its eastern backyard?
Change is confronting Europe’s boardrooms and governments with new imperatives. The euro, global competition, and tight credit are forcing companies to restructure and bureaucrats to get out of their way. With capital markets, rather than obedient house banks, increasingly the source of corporate finance, Europe’s old power structures, as well as the state’s means of influencing investment, are giving way. But giving way to what? An Anglo-Saxon economy? A genuinely new European model? Something in between?
These are among the many questions tackled by Project Syndicate’s monthly series European Economies. Edited by one of the architects of the euro, Niels Thygesen of the University of Copenhagen, commentaries in European Economies address pan-European problems, developments in individual countries, and economic relations between Europe and the rest of the world.
Commentators in this series have included individuals who are shaping the continent’s economic future - people like Edmond Alphandery, former French Finance Minister and current head of France’s national pension fund; Otmar Issing, former chief economist at the European Central Bank; Mario Monti, former EU Competition Commissioner; and leading economists, ranging from Italy’s Guido Tabellini to France’s Jean-Paul Fitoussi to Belgium’s Daniel Gros.Read More Read Less