The era of neoliberalism began with Thatcher and Reagan. Paolo Gerbaudo argues that it is crumbling before our eyes. Replacing it is a new era of â€˜neo-statismâ€™, the exact parameters of which are not yet fully shaped Read more
Surprisingly, left governments adopted more conservative fiscal policies than right governments in recent economic crises. Governments did not choose these policies freely; rather, the financial markets imposed them. Nonetheless, argues Damian Raess, they appear to have dire electoral consequences: left-leaning voters are increasingly voting with their feet Read more
The CDU is facing its first post-Merkel electoral campaign, and the SPD is struggling to gain more than a 15% vote share. The Greens, meanwhile, are the second largest party in Germany. The impact of their results on the new German government may be the Eurozoneâ€™s most important political development of 2021. Gabriele Beretta argues that this could also have dramatic macroeconomic consequences for the Euro Area Read more
The EU has activated a Covid recovery package worth a staggering â‚¬672.5 billion. Observers focus on the role of European capitals, inter-governmental institutions, and the European Commission's coordinating role in delivering it. Yet, argues Stefano Braghiroli, we shouldn't ignore the role of the European Parliament... Read more
The Biden administrationâ€™s plans to introduce a global minimum corporate tax rate, while bringing benefits to the world economy, will have a crushing effect on economies such as Ireland, which has used low corporate tax rates as an engine of economic growth, writes Anna Guildea Read more
In 2020 Germany promoted a bold European response to the corona crisis, involving common EU debt. This contrasts starkly with its position a decade before, when it favoured austerity over fiscal stimulus and debt pooling. Lucas Schramm and Amandine Crespy argue that the specific nature of the corona crisis reconfigured Germanyâ€™s national interests in Europe Read more
The impact of Covid-19 has laid bare the structural weaknesses of the Russian economy, dependent as it is upon nefarious practices and long-term assumptions about perennial growth in the world market for oil and gas, writes Albrecht Rothacher. And in the face of rising Chinese competition, future prospects are bleak Read more
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