The Eurozone needs fixing, but it is impossible to agree upon the steps to be taken without agreement on what went wrong. This column introduces a new CEPR Policy Insight that presents a consensus-narrative of the causes of the EZ Crisis. It was authored by a dozen leading economists from across the spectrum. The consensus narrative is supported by a long and growing list of economists.
Importantly, the EZ Crisis should not be thought of as a government debt crisis in its origin – even though it evolved into one.
• Apart from Greece, the nations that ended up with bailouts were not those with the highest debt-to-GDP ratios.
• Belgium and Italy sailed into the Crisis with public debts of about 100% of GDP and yet did not end up with Troika programmes;
• Ireland and Spain, with ratios under 40%, needed bailouts.
The real culprits were the large intra-EZ capital flows that emerged in the decade before the Crisis.
- Anue Systems
- Rockwell Collins
- Utrecht Universitypresent
- University of Texas at Austin
- Washington University in St. Louis
Desi beats: Giving Indian aunties a pop art twist - BBC News
Artist and emerging Instagram star Maria Qamar describes why her twist on pop art is gaining the attention of the Indian diaspora and beyond
How much will it cost to go to a South African university in 2016? - Afr...
South African students made history in October by forcing the government to put a moratorium on tuition fee increases for 2016. This means s
My Atheism does not make me superior to believers. It's a leap of faith ...
It’s easy to look at terror done in the names of different gods and think, look at these foolish religious folk. But we’re in no position to
Universities suspend lectures over fee hike protests
Lectures in six provinces have been suspended due to the continued fee hike protests.
Chattanooga: The first 10-gigabit internet city | ZDNet
While ISPs are struggling to bring 25 Mbps Internet to customers, the Electric Power Board of Chattanooga, a publicly owned utility, is brin
Is Zimbabwe’s unemployment rate 4%, 60% or 95%? Why the data is unreliab...
Estimates of Zimbabwe’s unemployment rate range wildly from 4% to 95%. Why is the data so unreliable? We dissected it.
Supreme Court of Appeal judgment: A confirmation of public protector’s p...
On Thursday, the Supreme Court of Appeal handed down a long-awaited judgment on whether the SABC was within its rights to ignore the public
Intersectional Types: a new mailing list for programming languages resea...
This is a guest post by Chris Martens, a programming languages researcher who recently got her Ph.D. at Carnegie Mellon University; she rese
OS X 10.11 El Capitan: The Ars Technica Review | Ars Technica
Apple brings refinement and under-the-hood changes to Yosemite's new design.